[Guelph, Ontario – August 15, 2024]
Jason Castellan, Co-Founder & Chief Executive Officer, Skyline Group of Companies, was recently featured as part of Connect Canada CRE’s Summer Leadership Series. The article series features several Canadian real estate industry leaders and explores how their organizations are adapting to significant changes in the commercial real estate industry.
Jason reflected on Skyline’s 25-year milestone and the various ways in which Skyline has adapted over time to remain innovative and competitive.
Skyline is proud to see our team members featured across various media platforms, including discussion panels, podcasts, and video interviews, where they share their expertise and insights as industry thought leaders.
Read the original article published on Connect CRE Canada.
Change Agent: Jason Castellan, Skyline Group of Companies
Connect CRE Canada has launched a new leadership series in which we interview Canadian commercial real estate industry leaders about emerging trends, keys to their companies’ success and other factors that enable them to be difference-makers.
Today’s interview is with Jason Castellan, co-founder and CEO of Guelph, Ont.-based Skyline Group of Companies. Skyline owns, develops and manages diverse commercial real estate properties and clean-energy assets across Canada, and offers them as alternative investment products.
Castellan explains how Skyline overcomes the daunting challenge of change to breathe new life into the company.
What recent organizational accomplishment brings you the most satisfaction? What specific challenges did it overcome, and what key factors led to its success?
This past January, Skyline celebrated 25 years in business. Back in the 1990s, it took eight years of us three founders cobbling together student rental portfolios and managing small buildings before we ultimately came together to form Skyline in 1999. That has always been our style, though: Try out the idea on ourselves, learn on our own dime, and then bring it to the next level once it has been incubated and its efficacy has been proven. That is exactly how our funds and operating companies have come to fruition over the past 25 years—not by overnight success, but by extensive trials and tribulations, and figuring them out before bringing them to market.
Something we accomplished very early on was successfully hiring for expertise. In fact, our very first hire, Andy Coutts, is still with us today. He has used his knowledge and leadership skills to rise within Skyline and do things that, quite frankly, no one else could do better. Over the years, we have found, attracted and cultivated, within, many more examples of true talent and expertise. At first, it was difficult watching someone do a job differently than we would do it. However, once we let go of our egos and gave others the opportunity to excel, the company really accelerated. I used to say that if I had five people doing things 80% the way I would have, I could get 400% more production and growth than doing it alone. Well, I quickly learned that even better outcomes happen with the right five people who are specialized in what they do. Hire an actual butcher, baker, and candlestick maker, rather than trying to be a mediocre version of each, and see where that takes you!
As part of our reflection on Skyline’s 25-year anniversary, we looked at the many transitions we’ve evolved through, often marked by key people coming aboard and presenting an opportunity to move the company to the next level. That gives me great satisfaction. Sometimes, it seems like the past 25 years have flown by in a blur; and at other times, they feel like a lifetime. Skyline has gotten to where it is today with the help of the many great people who resonated with our story and our drive, and who believe in our plan. In doing so, they have become part of Skyline’s history. I am greatly optimistic that, if we continue to operate this way, the next 25 years will compound on the past and lift us to something beyond imagination.
How do you navigate the transition from established practices to pioneering new frontiers within your organization?
Forging a new path or bringing about major change for an organization often involves contending with the bias we developed from what worked yesterday, last month, last year, or in the past 10 years. I carefully consider whether the potential reward exponentially outweighs the potential risk, whether in terms of reputation, financial resources, or human effort.
At the same time, I find that too much of the status quo can erode passion and energy over time, and that kind of drive can only be restored through change and new challenges. Sometimes, you simply have to go for it, gaining support from everyone who will help you lead the charge. I believe leaders owe it to their companies, and to their employees who are craving that next growth opportunity, to constantly seek innovation and maintain a competitive edge. So far, that mindset has led us to growth and expansion in every sense:
From how our funds are structured, to the asset classes we buy and develop, to the markets we do business in, to the types of investors we serve, and beyond.
I also think the people around you can pick up on whether you authentically and deeply believe in the opportunities you are chasing, and when your sincere enthusiasm resonates with others, inspiration becomes a two-way street. During those moments of doubt and questioning oneself from time to time, as any responsible leader will do, sometimes what pushes you forward is the enthusiasm that your people are reflecting back to you—those people who fully believe in the same things you do and want to see the company advance to the next level.
What are the essential elements for achieving significant progress within your organization and the industry as a whole?
Change is often met with apprehension because of the risk and uncertainty attached: What will the change mean, and will it be for better or worse? However, change can bring progress when executed properly and with a clear goal in mind.
Where change was relatively easy when Skyline was a team of only three, it now requires consensus-building and considerable buy-in with our team of more than 1,000. That buy-in is a huge determining factor of how successful the change will be; employees must understand and agree with the why behind operational shifts. As these changes continue to inspire company growth, they can also create growth opportunities on an individual level for those staff who seek to level up their experience and skillsets.
I am often asked why we build new products and continue to expand the ones we already have. The answer is simple: We must do so, or we risk becoming stale. Finding ways for a company to remain current and competitive, and to maintain a vibrant culture, is the key to a successful enterprise. When our people can play a vital role in our growth and operational shifts, they tend to stay engaged and, therefore, remain at the company—and they are our most valuable assets. Change is a daunting challenge to overcome, but it breathes life into Skyline. It inspires our investment community to continue to support us with the capital that fuels our engines.
When I was young and naïve about business, I believed it was very quantitative and lacked emotion. Now, I think it is quite the opposite. The biggest differentiating factor between a good company and a great one is intangible: It is the qualities and emotion of its people. That was a difficult concept for me to understand early on, but it has been demonstrated over the years during the times that called for change in our business. In those times, our people were inspired by the rewards that change could bring, and they stepped up and went all in.
It is our people who have propelled the company to where we are today.
For more information about Skyline Group of Companies’ funds and businesses, please visit SkylineGroupOfCompanies.ca.
About Skyline Group of Companies
Skyline Group of Companies (“Skyline”) is a fully integrated asset acquisition, management, development, and investment entity.
It is comprised of companies that provide services in real estate management and development, as well as clean energy management and development.
Skyline currently manages more than $8.23 billion across its real estate and clean energy platforms.
With approximately 1,000 employees across Canada, Skyline works to provide safe, clean, and comfortable places for tenants to call home, great places to do business, sustainable solutions for a greener future, and an engaging experience for its investors.
View Skyline’s 20th Anniversary celebration video to see how Skyline is grounded in real estate, powered by people, and growing for the future.
For more information about Skyline Group of Companies, please visit SkylineGroupOfCompanies.ca.
For media inquiries, please contact:
Cindy BeverlyVice President, Marketing & Communications
Skyline Group of Companies
5 Douglas Street, Suite 301
Guelph, ON N1H 2S8
519.826.0439 x602