Real Estate career of Karsten von Wersebe

After his tenure with The Metropolitan Trust Company, which focused on investment and mortgage banking in real estate, Mr. von Wersebe joined Lord Realty of Toronto, a prestigious private real estate and development investment firm.  Acting as President of both Lord Realty Limited and its management affiliate Polaris Realty, Mr. von Wersebe was actively involved in acquisitions and real estate development of several large-scale projects across Canada, ranging from single-family home development to major mixed-use projects and downtown office and multi-residential properties.  Meanwhile, Mr. von Wersebe also occupied several director positions in real estate and investment firms in Canada and abroad.

In 1976, due to FIRA, (Foreign Investment Review Act - limiting the expansion of foreign  controlled entities)  it allowed Mr. von Wersebe to purchase the development arm of Polaris Realty, buying out his European partners and thus providing him with the opportunity to launch a new business for himself and his associates.  In 1978, York-Hannover Developments Ltd. was created for Mr. von Wersebe and his associates to manage Canadian projects.  This was also when Mr. von Wersebe joined the Park Tower Group of New York and Cleveland as a partner.  The Park Tower Group was a major US private development firm founded by Cyrus S. Eaton and during his involvement with the group, Mr. von Wersebe became a Canadian pioneer in creating international business deals with foreign governments for the development of downtown hotel complexes and resorts.  Among others, the Park Tower Group succeeded in securing joint venture deals with Russia, Cuba and a first joint venture between a western company and Communist China involving the construction of  two major hotel complexes, one in Peking and one in Shanghai (the Great Wall Hotels).

During these years, Mr. von Wersebe became a founding shareholder and director of the Vancouver-based RG Properties Ltd. as well as a large shareholder and Vice-Chairman of Samoth Capital Corporation, a Vancouver and Phoenix-based real estate investment company, listed on the Toronto Stock Exchange. 

In 1980, Mr. von Wersebe became a co-founder of the Swiss-based York-Hannover Group.  This group, sponsored by the Rothschild Bank in Zurich, was very active in corporate takeovers in Europe and beyond.  Mr. von Wersebe headed several profitable and diverse acquisitions in trading, real estate and construction on behalf of the group. 

York-Hannover Developments Ltd., was successively controlled by its clients and became a contributor to and manager of Canadian real estate projects, including Toronto World Trade Centre, Montreal Eaton Centre, Hazelton Lanes in Toronto and Airport Corporate Centre in Mississauga. In 1991, due to a variety of issues at the Rothschild Bank, these successful entities either ceased operations or were sold after Mr. von Wersebe departed from the Group.

Following the crisis in the Canadian real estate market (1990-1991) and the collapse of York-Hannover Developments’ main lender, the company gradually ceased operations in 1992.

Mr. von Wersebe also managed his family’s diverse operations and investments in health care in Florida , Playland at Pacific National Exhibition in Vancouver, and restaurants and catering operations at Ontario Place.  He then set up his principle family holding in Toronto, KvW Ventures LP, which subsequently founded the von Wersebe Family Trust in 1993.

Karsten von Wersebe joined Asta Corporation Inc. as President in 1997.  Asta Corporation is an international M&A and asset management firm founded by David Dolson of Toronto and the von Wersebe Family Trust.  The company manages projects for a number of Canadian and international clients.

Mr. von Wersebe co-founded Contessa Developments Inc., in January 2016 with a vision to develop an innovative brand of quality, purpose-built rental apartment buildings in the Greater Toronto Area and beyond.  Contessa, as Merchant Builder, is committed to seeing each project through from site acquisition, planning and construction, lease-up and operations, to the eventual sale of the property.