Andrew Shapack is widely recognized as an expert and pioneer in the field of North American medical office buildings and has enjoyed invitations to share his perspective on such programs as BNN-Bloomberg “Market Call” and the Queen’s Real Estate Roundtable. He is a dynamic leader commanding both institutional aptitude and entrepreneurial determination through varied economic cycles with multiple REIT formations and exits.
Mr. Shapack is a second-generation medical office building investor from Metro Detroit who re-located to Toronto to pursue the exciting opportunity of universal healthcare and Canadian medical office building investment.
With this enthusiasm, he founded the first medical office REIT in Canada, GT Canada Medical Properties REIT, where he served as the Chief Executive Officer. In that role Mr. Shapack was responsible for start-up formation, acquisitions, strategy, capital markets and ultimately, the sale of the REIT to a competitor.
GT Canada was focused solely on the medical office building sector and was one of Canada’s fastest growing REITs. Upon the successful sale of this publicly traded REIT, Andrew was the co-founder of a private REIT called Mohawk Medical Properties REIT. Mohawk purchased medical office buildings in Ontario, Alberta, New York and Florida. This private REIT was sold to a TSX-listed global healthcare real estate company.
From 2014 – 2017, Mr. Shapack was a member of the Board of Trustees for OneREIT, a real estate investment trust listed on the TSX, where he served as Chairman of the Audit Committee, Chairman of the Governance Committee and member of the Investment Committee. OneREIT was successfully sold to another REIT listed on the TSX and Mr. Shapack served on the Special Committee.
Mr. Shapack is a lawyer admitted to the New York and Connecticut Bar and practised with Paul Hastings LLP in New York City in their Real Estate Finance Department. He participated in large and complex transactions involving REIT and UPREIT structures, joint venture/preferred equity positions, opportunistic acquisitions of real property, entity level investments, as well as various high-yield debt instruments.
Prior to legal practice, also in New York City, he was an associate with PricewaterhouseCoopers in their Real Estate Securitization and Capital Markets Group.
Mr. Shapack received a B.A. in Economics from the University of Wisconsin and law degree from the Catholic University of America in Washington, D.C.
On the weekends, he enjoys outdoor chores and the ‘back to basics’ community with his family at their small farm in the Niagara Escarpment.