Founded in 2011 Afflatus is a socially responsible boutique real estate development company that specializes in the revitalization of urban communities. Our expertise includes a varied range of new construction, purpose rental development, renovation, and conversion of historic properties, and developing mixed-use properties that strengthen local communities.
Afflatus Development draws on end-to-end expertise in all asset classes throughout the entire property lifecycle, from acquisition and development through to cost-effective and value-optimizing management all the way through to the property sale.
PORTFOLIO
AUM $
0
M
DEVELOPMENT
Scarborough, Ontario
200+ units Mixed use Condominium
Land Assembly of 2 parcels
Purchase in 2012
Sold (Site Plan) in 2017
Woodbridge, Ontario
13 Town homes
Land Assembly of 3 residential lots
Purchase in 2011
Sold (Site Plan) in 2013
Visalia, California
10 Unit Multifamily Rental
Assembly of 2 Residential lots
Purchase in 2019
In Progress
Newmarket, Ontario
1.56 Acres Infill site
Assembly for 15+ semi-detached unit
Purchase in 2020
In Progress
Brantford, Ontario
Preservation, Conversion & Development
1879 Brick Heritage former Victoria Public School
26000 SF on 1.9 Acres land
In Progress
Brantford, Ontario
Preservation, Investment & Development
1890 Brick Heritage former Red Cross
One of the downtown’s historical signatures
7000 SF on 0.5 Acres land
St. Louis, Missouri
4.16 Acres of lot size
Frontage along I-170 around
137k+ vehicles passing pers day
In progress
East Gwillimbury, Ontario
1.1 Acres
Severance and brand new apartment building
Purchase in 2022
In Progress
INVESTMENT
Ottawa West (Nepean), Ontario
32,000 SF Mixed Office-Warehouse
Purchase: 2006
Full Equity Take out in 2 Phases
Sold: 2017
Ottawa Central, Ontario
6,800 SF Medical and Retail Plaza
Purchase: 2007
Full Equity Take out in 2012
Sold: 2018
Ottawa East, Ontario
10,000 SF Industrial Plaza
Purchase: 2004
Full Equity Take out in 3 phases
Sold: 2017
Toronto (Woodbine Ave), Ontario
18,000 SF 3 Story Mixed Retail-Residential
Purchase: 2017
Equity Take out in Progress
Toronto (Wilson Ave), Ontario
19,000 SF 3 Story Mixed Retail-Residential
Purchase: 2017
Equity Take out in Progress
ADDED VALUE
London, Ontario
3 Properties totaling 13 Residential
Purchase in 2019
Full Renovation and Leased at Market Rent
Full Equity Take out: 2020
Toronto (Eglinton Ave), Ontario
3 Parcels Including Residential, Retail and Office
Purchase at $40K NOI in 2018
Development Potential with Current NOI $200K
Equity Take out: 2021
Hamilton, Ontario
Conversion and Development
26,000 sqf commercial to residential
Purchase in 2021
Equity take out in progress
TEAM
Our team is empowered to make decisions throughout the acquisition and asset management process. Experience over many different cycles in the real estate market has armed them with an awareness of potential pitfalls, as well as strategies to ensure that appropriate and timely actions are taken to maximize returns.
Catching opportunities, as well as managing risks, are crucial for us. Our trusted investors are our greatest asset. Our goal is always to protect and grow investors’ capital through passive syndicated commercial real estate investments.
Payam Khazanbaik
President and CEO
Payam has a bachelor’s degree in computing theory and numerical methods from Carleton University. Payam specializes in Real Estate Development, Asset Management, Investment, and Syndication with an emphasis on land development and investment properties. He has completed several projects of those types as part of Afflatus across the GTA and Ottawa. Payam leads a team of agents, lawyers, accountants, financial analysts, planners, architects, and business developers to make reliable and fast decisions in favor of investors.
Alireza Gharagozlou
Co-founder and Corporate Strategy
Alireza holds a Ph.D. in Management and is the main driver of Afflatus’ corporate strategy. As a part of Afflatus Development, he does a great job in structuring the deals and managing investor relations. Alireza joined Afflatus in 2015 to shape Payam’s notable experience into a well-organized enterprise with a clear vision in real estate management and other ventures. Alireza thrives in converting uncertainty to a manageable arena of risk and by extension, results.
Ommid J. Faghani
Advisor
Ommid has a Ph.D. from Paris Graduate School, an MBA from the University of Bradford, and an MSc from Edinburgh Business School. He has over 30 years of experience in real estate investment. Ommid currently serves as President of Newland Financial, a lending and alternative investments firm in Toronto and an investment partner of Afflatus Development. Ommid has been a general partner (GP) in real estate projects of Afflatus Development since 2017.
Ali Khazanbaik
Chief of Operation
Ali has a bachelor’s degree in management, and he is a professional operations leader. He possesses robust expertise in detailed process control and managing diversified human resources and contractors. He is a brilliant day-to-day manager under uncertain and high-pressure situations. Ali has acquired and possesses a unique skill set gained through 12 years of experience in his professional career with Payam and Alireza. Ali’s current management of up to 100 employees and contractors is a testament to his deep understanding of the chief operating officer role and requirements.
Ali Khazaei
Land Acquisition
Ali’s professional career in the commercial real estate market makes him an expert in researching and assessing exclusive and off-market properties. He locates property owners, negotiates property settlements, and makes sure properties meet all the necessary requirements before being sold or rented out by new owners. He is exceptional at negotiating agreements with landlords and owners and helps in evaluating properties.
Pouria Sardashti
Residential Investment
Pouria has a bachelor’s degree in business commerce as well as interests in marketing, networking, and architecture that add a unique touch to his services. From listings to negotiating to closing, his knowledge will ensure the entire process is pleasant and successful. One of the main areas of his expertise is residential properties for investment. With a good knowledge of investment opportunities, he helps end-users become real estate investors.
AFFLATUS STORY
2001
Payam and Masoud
Afflatus started off as a dream, as many companies do. There was definitely an inspiration to create Afflatus, it began with Payam’s idea and some inspiration from Afflatus’ first investor. Payam’s uncle Masoud provided mentorship when Afflatus was just a dream. Masoud shed light on all the opportunities, potentials, and possibilities that lay before them. Masoud was one of three founders of Fox Rent A Car (a major car rental company in the US) and a big advocate of being your own boss. In 2003, Payam stirred up enough courage to invest in his first property in Ottawa, and his first investor was none other than his Uncle Masoud. As years passed, Afflatus began to flourish and branch out to become the strong development company that is today.
With many years of real estate experience and superb due diligence research capability, Afflatus discovered an opportunity to invest in a niche market in the bordering Greater Toronto Area (GTA) communities. A real estate market that was too small for the bigger developers to be attracted to and too complicated for the smaller players to attempt to take on.
In 2015 Alireza, Payam’s high school best friend joined and in 2017, Payam’s younger brother Ali joined Afflatus as well to form a much stronger team. A decade later, an entity that was just a consultancy service to other real estate investors, has become Afflatus Development.
1999
Alireza and Payam
1985
Ali and Payam
Today the team is proud to own a well-established company with numerous investment properties as part of its real estate portfolio.
With the right mindset, hard work, and experienced mentor anything is possible. To this day, all senior investors-advisors like Masoud continue to support the team.