A Message from Shelley Legin, All Island REIT Trustee Board Chair:
As All Island REIT continues to grow, the Board is entering its next chapter, welcoming two new board members while honouring the leadership that helped shape its foundation.
With a portfolio that has expanded from $67 million to approximately $300 million in assets over nine years, our evolution has been disciplined and community-focused. These board changes reflect that same thoughtful progression.
THANK YOU
Ben Vanderhorst
After seven years of dedicated service, Ben Vanderhorst is retiring from the Board.
A Chartered Accountant and former Partner at MNP LLP, Ben brought financial rigour and governance discipline during a period of rapid expansion. Under his tenure as Director, the REIT grew from a Comox Valley–based portfolio to a diversified, multi-community asset base spanning Campbell River, the Okanagan, and Victoria.
Looking back, Ben is most proud of the REIT’s balanced approach to growth:
“We’ve built a business model that grows our asset base while delivering consistently healthy returns, carefully balancing risk and reward. Striving to add assets that are accretive to the value of the REIT from their initial acquisition has been challenging but rewarding. I think we have been quite successful in that regard.”
He leaves confident in the organization’s trajectory:
“We are an appealing investment vehicle for our unitholders to keep their communities strong while growing the value of their own portfolios. With a solid asset base, strong management, and an experienced board, the future is very bright indeed.”
We thank Ben for his steady leadership and commitment to protecting and growing investor capital.
Welcoming
Mackenzie Kyle
Joining the Board is Mackenzie Kyle, a strategic leader and former MNP Advisory Services Partner with more than 35 years of experience guiding organizations through complex growth and change.
With experience across multiple industries and international markets, Mackenzie brings deep expertise in governance (including spending 11 years on the MNP Board), performance management, and large-scale project execution. He is also the author of two widely sold books on project and performance management.
What drew him to All Island REIT?
“I love how the vision combines strong business fundamentals with being a good, long-term member of the community. The solid and sustainable communities that exist on the Island, combined with being a highly desirable place to be is going to drive continued demand for housing and real estate. The REIT is in a great position to identify and execute on the opportunities that exist in that market.”
He sees significant opportunity ahead:
“The team’s deep understanding of the Island positions the REIT to identify and execute on opportunities others may not see.”
Mackenzie’s broad business perspective and disciplined approach to strategy will support the REIT’s continued expansion and operational excellence.
Welcoming
Don McRae
The Board is also pleased to welcome Don McRae, whose deep roots on Vancouver Island and diverse leadership experience will strengthen the REIT’s governance and community insight.
Don has served 17 years in elected office at the municipal and provincial levels, including as MLA for Comox Valley and as Minister of Agriculture, Education, and Social Development. His career spans public leadership, education, and real estate, giving him a unique perspective on regional growth and community development within the north Island.
What drew him to All Island REIT?
“I’ve been aware of the REIT since its early days, and I’ve seen how its stewardship has helped maintain the strong reputation of those properties while providing much-needed rental housing across the Island.”
Looking ahead, Don sees continued opportunity:
“Vancouver Island is one of Canada’s premier lifestyle and retirement destinations, and I see continued demand for quality rental housing across the region.”
Don’s public policy experience, local knowledge, and real estate insight will support the REIT’s strategy and commitment to responsible growth.
What This Means for Investors
This transition represents continuity in terms of our values and an exciting expansion of our capabilities.
All Island REIT remains focused on:
- Disciplined, accretive acquisitions
- Diversification across vibrant, lifestyle-rich BC communities
- Professional governance and operational excellence
- Delivering consistent, long-term returns
With an experienced management team and a strengthened independent board, All Island REIT is well positioned to pursue its next phase of growth while maintaining the careful balance of risk and opportunity that has defined its success.