Almond Tree Enterprises is the umbrella entity and family office representing the varied business and philanthropic interests of the Mark and Lindy Mandelbaum family. In this respect, it operates as the family office for the Mandelbaum family and its constituent family members.
Mark and Lindy’s family is one of the constituent families who own H&R Developments, a firm founded in the early 1950s in part by Lindy’s father, Sandor Hofstedter together with Bill and Danny Rubenstein. In the late 1990s H&R Developments transferred most of its commercial real estate assets to H&R REIT while retaining its large portfolio of residential and industrial revenue producing assets which it continues to manage.
After earning his law degree from the University of Toronto in 1980 and being admitted to the Law Society of Upper Canada in 1981, Mark started his business career as a lawyer practicing corporate and commercial law in a downtown Toronto law firm. In 1984, Mark changed career paths and entered the real estate industry as VP, Land Development at H&R Developments. In that role, over a span of more than 20 years, he developed thousands of acres of land across Toronto and the GTA into a range of commercial, industrial and residential uses.
In the years following, H&R Developments transformed into a more passive real estate firm, managing a large portfolio of residential and industrial assets on behalf of the constituent Hofstedter and Rubenstein families, including the Mandelbaum family. Today, H&R is a robust real estate management firm, led by CEO Evan Miller, continuing to manage this portfolio of thousands of residential apartments as well as numerous industrial and commercial properties. H&R is governed by a four-member executive committee. Mark is a member of the executive committee. Please see H&R’s website [hrpm.ca] for a full description of H&R’s activities.
During H&R’s transformation, Mark co-founded, as Chairman, Lanterra Developments in 2000. Lanterra’s particular focus has been residential condominium development in downtown Toronto. This focus is, in large part, a reflection of the dramatic transformation of the GTA new home development industry from essentially single home suburban development to a higher density urban housing industry.
Since inception, Lanterra has acquired, developed, marketed and constructed over 17,000 residential Condominium homes in dozens of landmark buildings including Maple Leaf Square, Ice, One Bedford, the Britt and 11 Wellesley to name just a few.
Lanterra is a fully integrated real estate firm that manages its own construction activities through its wholly owned subsidiary Lanterra Construction Management Limited. It has nearly 200 employees and has several large-scale condominium projects active on an ongoing basis. Please see Lanterra’s website [lanterradevelopments.com] for a full description of Lanterra’s current and past projects.
Lanterra is the backbone of Almond Tree’s real estate investment activities, however it also owns, manages and invests in the development of a wide range of residential and commercial real estate in Canada, the US and other countries.
In addition to real estate, Almond Tree also has significant interests in publicly traded securities & hedge funds and participates in a variety of private equity and venture capital investments.
Mark and Lindy Mandelbaum have seven children. Mark and Lindy are very proud that each of their children’s families have developed their own independent, successful businesses focussed on real estate and/or private equity. The Almond Tree family office also regularly co-invests in a variety of ventures acquired or managed by the Mandelbaum children.
Lanterra Developments, founded by Mark Mandelbaum and Barry Fenton in the late 1990’s, primarily focuses on the acquisition, development, marketing and construction of noteworthy landmark residential and mixed use projects in the Toronto GTA area.
H&R Developments was founded in the early 1950’s by Sandor Hofstedter and over the following decades became established as one of the largest integrated real estate development companies in Canada, encompassing residential, industrial and commercial development.
The Mandelbaum children and their spouses also participate in the affairs of the family office and provide ongoing input.
Naomi & Raphael Mandelbaum
Rivki Mandelbaum & Benjamin Bakst and Miriam Mandelbaum & Elliot Kazarnovsky
Rachel Mandelbaum & Elie Rieder
Zoe & Zev Mandelbaum
Caroline Mandelbaum & Noam Edell
Shifra Mandelbaum & Martin Blatt