What Enright Capital does

Enright Capital Ltd. is a privately held commercial real estate investment and development firm headquartered in Calgary, Alberta, with operating presence across Calgary, Edmonton, and Phoenix. Co-founded by David Forbes and Patrick McFetridge — both former Executive Vice Presidents and Principals at CBRE Alberta, where they collectively led approximately $11 billion in sale and financing assignments — the firm operates as an opportunistic investment and core development platform. Its portfolio spans industrial, office, and retail property types, with over 1,300,000 SF under full-service property management through the wholly-owned subsidiary Enright Management Ltd. The firm maintains a documented track record of 28 completed projects with Net IRRs ranging from 7.39% to 65.8%.

The firm's revenue model is multi-stream: co-investment with institutional investors and high net worth individuals on value-add and development opportunities generating investment returns; development management fees acting as merchant builder or development manager for institutional asset owners (notably Sun Life and GWL Realty Advisors); transaction-based leasing commissions across the portfolio; and recurring property management fees on the owned and managed portfolio. Active developments include the 2,174,270 SF Stoney North Logistics Centre in Rocky View County (jointly developed with GWL), Gemini 52 (358,950 SF), Canal108 (286,950 SF), HF11 industrial condos (89,115 SF), and the 25-storey 635 8th Avenue SW office tower. Anchor tenants include Electrolux Canada, Dawn Food Products, Shoppers Drug Mart, Pason Systems, IMT Standen's, and the Real Estate Council of Alberta (RECA).

The firm is staffed by approximately 25-30 professionals organized into Leasing & Investment, Property Management & Operations, and Accounting teams, alongside the two principals. Go-to-market is relationship-driven and direct, with no third-party distribution channels or formalized marketing apparatus identified. The competitive positioning rests on geographic specialization across three markets, vertical integration from planning and zoning through construction, leasing, and ongoing property management, and a co-investment model that aligns the firm's capital with that of its institutional and HNW partners.

Name

Enright Capital

Legal name

Enright Capital Ltd.

Website

https://enrightcapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Private commercial real estate investment and development firm co-founded by ex-CBRE Alberta executives, operating across Calgary, Edmonton, and Phoenix with a 1.3M+ SF portfolio spanning industrial, office, and retail assets.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Development

NAICS

Offices of Real Estate Agents and Brokers (53121), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Offices of Real Estate Agents and Brokers (531210)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Real Estate (6500)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

Keywords

• Commercial real estate investment
• Property development services
• Property management
• Industrial office leasing
• Real estate co-investment

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Returns: Co-investment with institutions and high net worth individuals on investment and development projects, generating returns through property appreciation, rental income, and exit proceeds.
2. Development Fees: Development management fees as merchant builder or development manager on behalf of institutional asset managers, including planning, zoning, land development, building design, and vertical construction services.
3. Property Management Services: Full-service property management services for over 1,300,000 SF of Canadian properties through Enright Management Ltd.
4. Leasing Commissions: Leasing and sales services for commercial properties generating transaction-based commissions.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Enright Capital is a private commercial real estate investment and development firm that co-invests with institutional investors and high net worth individuals on value-add office, industrial, and retail properties in Calgary, Edmonton, and Phoenix. The company provides full-lifecycle capabilities spanning investment origination and execution, merchant building or development management (planning, zoning, land development, building design, vertical construction, leasing), and ongoing property management for its owned and affiliated portfolio of approximately 1,300,000+ SF.

Product overview

Enright Capital is a commercial real estate investment and development firm offering a unified suite of services encompassing real estate investment strategies, property development, leasing and sales, and property management. The company's core offering consists of investment origination and execution for risk-adjusted returns, co-investing with institutions and high net worth individuals. Development capabilities span core office and industrial buildings in Calgary. The portfolio includes diverse property types across three markets (Calgary, Edmonton, Phoenix) totaling approximately 1,300,000+ SF of industrial, office, and retail properties including Airport Crossing (LEED Certified warehouses), Plains68, Stoney North Logistics Centre (2.1M+ SF), HF11 industrial bays, and various office towers like 635 8th Avenue and Stock Exchange Tower. Property management services support the owned portfolio while leasing operations market available spaces across all property types.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Investment Services Origination and execution of risk-adjusted real estate investment strategies through co-investment with institutional investors and high net worth individuals in office, industrial, and retail properties across Calgary, Edmonton, and Phoenix.
• Real Estate Development Services Core office and industrial building development in Calgary, serving as merchant builder or development manager on behalf of institutional asset managers. Encompasses planning and zoning, land development, building design, vertical construction, leasing, and property management.
• Property Management Services Full-service property management delivered by Enright Management Ltd. for over 1,300,000 SF of Canadian properties in which Enright Capital and/or its principals have an interest, including tenant relations, maintenance, and operations.
• Airport Crossing (Phases 1-3)

Quantifiable outcome

• Net IRR ranging from 7.39% to 65.8% across 28 track record projects
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• GWL Realty AdvisorscoreStrategic or Co-development PartnerCo-development partner with Enright Capital on Plains68 industrial development (205,075 SF) and Stoney North Logistics Centre (2,174,270 SF). Both partnerships involve joint development and ownership of industrial properties in Calgary area.
• Obsidian EngineeringminorStrategic or Co-development PartnerEnright partnered with Obsidian Engineering to purchase 4th and 4th office building in Calgary. Obsidian serves as the main office tenant in the building.
• ColliersminorChannel Partner/ Reseller/ DistributorColliers listed as the brokerage contact for Airport Crossing property sale inquiries, with Paul Marsden and Sam Binfet as contacts.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Melcor Developments: Alberta-based real estate developer and owner with a portfolio spanning Western Canada. Operates in similar asset classes (office, industrial, retail) and the same Calgary/Edmonton geography, making it a direct regional peer for leasing and investment activity.
• Remington Development: Calgary-headquartered commercial real estate developer focused on office, industrial, and retail projects in Western Canada. Closest geographic and asset-class peer to Enright for development opportunities.

Direct peers

• Colliers International Group: Global commercial real estate services firm providing leasing, investment sales, and property management. Already a partner on Enright's Airport Crossing project and competes directly for the same leasing and investment mandates in Calgary.
• Dream Industrial REIT: Canadian industrial-focused REIT that owns and operates logistics and warehouse properties across Canada and the US. Competes with Enright's industrial arm (Airport Crossing, Plains68, Stoney North) for tenants and capital in Canada's industrial markets.
• Morguard: Canadian-based real estate investment company that owns, manages, and invests in commercial real estate across Canada and the US. Comparable multi-market (office, industrial, retail) strategy with integrated investment and management platform.
• GWL Realty Advisors: Canadian institutional real estate investment manager and one of Enright's key co-development partners. Operates a similar institutional real estate platform across Canada, with comparable value-add and development capabilities in industrial and office.

Broad incumbents

• JLL (Jones Lang LaSalle): Global real estate services and investment firm offering capital markets, leasing, and property management. Directly competes with Enright for institutional mandates and owner-representation work in Calgary and Phoenix.
• CBRE Group: Largest global commercial real estate services firm and the firm where Enright's founders built their careers. Provides the full suite of investment, leasing, development, and property management services that Enright offers, but at vastly greater scale and geographic breadth.
• Cushman & Wakefield: Global commercial real estate services firm offering investment sales, leasing, valuation, and property management. Competes with Enright for institutional capital relationships and leasing mandates across Canadian and US markets.
• BentallGreenOak (BGO): Global real estate investment manager with deep Canadian institutional real estate presence. Pursues similar value-add and core strategies, often partnering with local sponsors like Enright or competing directly for the same assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enright Capital