Succeeding in Small Markets with Mike Bonneveld of Skyline

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Joining us  is Mike Bonneveld, Vice President of Skyline Asset Management. They’re located in Guelph, Ontario, which is a small market for a firm of this magnitude. Their geography reflects their investment strategy; Skyline prefers to invest in small markets. Mike takes us through the reasons for this and the nuances of succeeding in this environment. We also hear about Skyline’s expansion into provinces outside Ontario and branching out into different asset classes.

Topics covered include:

  • Negative cashflow in the industry when Mike began his career and the discounted cash flow model. 
  • Sourcing deals and making connections in small markets.
  • Problems with real estate syndication.
  • The locations of Skyline’s assets and why they are small market-centric.
  • Commercial mortgage backed securities (CMBS) in the late 90s.
  • Expanding across Canada and entering small markets in other provinces.
  • Branching out beyond apartments into different asset classes.
  • The impact of online retailers being diminished in small markets.
  • Cap rates in Skyline’s markets. 
  • Partnering with developers in growing markets.
  • A look at Midland, Ontario and the smallest markets that Skyline operates in.
  • What’s coming up in 2019 for Skyline Asset Management.
  • Green energy initiatives.

A bit about our guest…

Mike Bonneveld is the Vice President of the Asset Manager. He leads the Skyline acquisitions and asset management teams, and is responsible for all acquisitions and dispositions, due diligence, and closing portfolio transactions for Skyline’s three real estate investment trusts and for Skyline Mortgage Trust.  Mike is also a Trustee of Skyline Clean Energy Trust and of Skyline Mortgage Investment Trust and has been heavily involved with new product development for the Skyline Group of Companies.  Mike has over 24 years of real estate experience. He has worked with a number of Canadian investment banks in the field of real estate corporate finance, as well as public real estate companies running acquisitions departments. He is focused on the continued growth and expansion of Skyline’s real estate portfolios and new business ventures. Mike holds an Honours BA in Urban Development from the University of Western Ontario.

Mike Bonneveld LinkedIn

CMBS episode of the CRE Podcast

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