Upfield Capital is betting big while the real estate market cools

Since launching in 2023, Vancouver-based real estate management firm Upfield Capital has made five major acquisitions in a market where most companies are hitting pause. We sat down with co-founders Peter Edgar and Rob Greer to discuss why they’re leaning into the market.

Let’s start with the big picture. What is Upfield Capital, and what makes your approach different?

Rob Greer: Upfield is a real estate investment and asset management firm focused on building a diversified, income-generating portfolio across Canada. What makes us different is our ability to move fast and think long-term. We’re leveraging institutional discipline with entrepreneurial speed, and in this environment, that’s a real advantage. One of the things we look for in every deal is a way to add value through active asset management.

What’s your strategy?

Peter Edgar: We’re buying in a down market while everyone else is running for cover. That’s the key. We see this as a buying opportunity. There’s a lot of hesitation in the market right now, but we’re positioned with capital and alignment to act when others won’t. We just signed a deal for a mixed-use retail and office building on Water Street in Vancouver. We’re really excited about that as it will be home to our head office as well. And we have a few other properties on Vancouver Island and one in Coquitlam.

You recently closed on a major deal in Alberta, your first in that province. Why the eastward shift?

Rob Greer: We’ve been tracking Alberta for a while. The fundamentals are solid—stable long-term income, population growth and lower land and construction costs. In 2025, we closed on our first Alberta deal—a 206,000 square foot Home Depot-leased distribution centre. It ticks a lot of boxes. Long lease, additional industrial land, room to grow.

How do you reduce risk in this kind of climate?

Rob Greer: Discipline. We underwrite conservatively, we focus on income, and we actively manage every asset. We’re not just buying—we’re adding value through operations, development expertise and active asset management.

How did you two meet—and why did you decide to launch this company together?

Peter Edgar: We’ve worked together for a long time now, first on deals during Rob’s time as a lead broker at Avison Young. Over many transactions, our friendship grew, our business relationship solidified and we realized we were aligned in the direction we wanted to go in terms of building a long-term, high-quality portfolio of income-producing assets.

Rob Greer: The idea for Upfield was created over coffee. I was ready to leave brokerage and build a new company that focused on income-generating properties. Pete recognized that it was a missing piece at EDGAR Development, and we decided to build a portfolio of long-term real estate assets.

You also recently acquired a new office building in Gastown. What can you tell us about that deal?

Peter Edgar: On the surface, buying a vacant office building in today’s market may seem like a contrarian move. But we saw long-term value in this heritage asset and in Gastown’s future. This is a smart investment for Upfield Capital, and it will be the new head office not only for Upfield, but also for EDGAR Development and for Bridgemans. It’s also a personal move; my very first office was across the street, so it’s a bit of a homecoming.

Rob Greer: The market is cyclical. While many are hesitant about offices, we’re looking at fundamentals and the future. Gastown is such a unique place, and we believe in its long-term potential. The neighbourhood has been through a tough few years, but we believe in its rebound. Our investment is a signal that the recovery is already starting, and that with thoughtful investment and active tenancy, these heritage areas can thrive again. From industrial and rental assets in Alberta to now the office in Gastown, our big-picture strategy is focused on long-term, value-based investing with a disciplined, entrepreneurial lens.

What’s next for Upfield?

Peter Edgar: We’re continuing to grow our portfolio with assets that produce stable, long-term income and serve unmet market needs. We’re looking nationwide, and we’re looking to scale. We’re very excited about how things are evolving.

Upfield Capital is a Vancouver-based real estate acquisition and asset management firm focused on building a long-term, diversified portfolio of high-performing real estate assets across Canada. Co-founded by Peter Edgar and Rob Greer, Upfield leverages institutional discipline with entrepreneurial speed to deliver stable, accretive returns. With a portfolio that spans industrial, rental housing and mixed-use developments, Upfield is backed by a network of high-net-worth and institutional investors aligned for long-term value creation.

Learn more at upfieldcap.com.

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