The COVID pandemic has dramatically heightened health consciousness both here in Canada and abroad. For the short term, the government has put measures in place to protect residents, however, in the long run, as society eventually transitions into the post-COVID world, a forward-looking approach that puts health at the forefront of all aspects of life -- from how we work, live, and play -- is critical.
This is why Greybrook, a Toronto-based real estate and health care private equity firm, joined forces with two Canadian private investment firms to invest and partner with Delos -- a New York-based wellness real estate and technology company.
Through the partnership, Delos will establish a local presence throughout the country through the formation of Delos Canada, with a mission to help Canadian businesses, real estate owners, and the public sector advance by implementing solutions that prioritize health and wellness within the built environment.
The group will provide valued leadership support in advancing Delos' strategy for product and solution enhancement, global expansion, and ecosystem development as well as core participation on the Global Advisory Board.
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“With a portfolio of residential and commercial real estate at various stages of development totalling in aggregate over 43 million square feet of projected density, and our experience investing in and growing health care businesses, joining forces with Delos, a global leader at the intersection of health and real estate, was a natural fit for our organization,” said Sasha Cucuz, Partner at Greybrook Capital, and Board Member, Delos Canada.
Along with its Delos Canada investment partners, Greybrook will play a critical role supporting the Delos Canada team in working with the real estate development community, industry-leading Canadian businesses, and all levels of government to help implement Delos’ evidence-based products and solutions in offices, schools, long-term care facilities, public venues, and new residential communities across the country.
According to Cucuz, this includes air purification, water filtration, and circadian lighting serving as tools Canadian businesses can use to help improve the health and well-being of their employees, customers, and other stakeholders.
"We are excited to accelerate adoption of our standards and solutions in Canada to improve the quality of indoor environments and expand the health and wellness movement already underway by leading Canadian organizations," said Paul Scialla, Founder and CEO of Delos and Founder of the International WELL Building Institute (IWBI).
"The partnership we have established with respected Canadian business leaders and our long-standing collaborative relationships in the country gave us a strong foundation to continue to expand our global presence. With Canada's demonstrated leadership in healthcare and real estate, investing in a Delos Canada office was a natural next step for the business," said Scialla.
Canada's rapid adoption of the WELL Building Standard and WELL Health-Safety Rating programs, offered by Delos' soley-owned subsidiary IWBI, has set the foundation for continued growth, with many Canadian companies, including Brookfield, TD, and MLSE, already adopting WELL criteria.
Cucuz told STOREYS he's excited about this partnership because he thinks people care about how and building interacts with the people that occupy it.
"We want to take the buildings that we're involved with and WELL certify them and implement the highest quality of tools," said Cucuz, adding, "by investing in solutions like air quality and water quality, you're doing a service to the people you're building buildings for."
"One feature we think is most important is addressing air quality in buildings because if we've learned anything through the pandemic, we're all very aware of the air we breathe and the people within the interior environment, and how the air moves throughout the space," said Cucuz.
"Because looking at air solutions in all types of interiors, not just residences, ensures that everyone is getting access to these best in class solutions," added Cucuz.
