About the Firm
Built on Conviction. Sustained by Discipline.
Augustus Charles Noha was founded on the belief that enduring wealth is not created by chasing markets — it is built by understanding them.
Our Story
Eighteen Years of Purposeful Capital
“We are not in the business of volume. We are in the business of permanence.”
Augustus Charles Noha was established in 2008 at the intersection of two convictions: that real estate remains the most durable store of value in any economic cycle, and that the discipline to act only when the evidence is overwhelming separates enduring firms from opportunistic ones.
We began with a single mandate — to deploy capital in the most resilient markets in North America with the patience and rigour that institutional investors deserve. That mandate has not changed. What has changed is the scale at which we execute it.
Today, Augustus Charles Noha manages over $2.4 billion in assets across twelve active markets in Canada and the United States. Every investment we have made has returned capital to our investors. We intend to keep it that way.
We are not a large firm by design. We believe that focus is a competitive advantage — that the ability to say no to the majority of opportunities is what makes the ones we pursue exceptional.
What We Stand For
Capital Preservation First
Every investment decision begins with a single question: what is the worst plausible outcome, and can we survive it? Growth is secondary to protection.
Conviction Over Consensus
We do not follow institutional consensus. We form independent views through rigorous research and act on them with the patience that long-term investing demands.
Partnership, Not Transactions
Our investors are not clients. They are partners. We treat their capital with the same care we extend to our own — because in many cases, it is our own.
Transparency Without Exception
We report the full picture — including the challenges. Our investors deserve to understand exactly what we own, why we own it, and how it is performing.
Leadership
The People Behind the Capital
Augustus Charles Noha
Founder & Chief Executive Officer
Augustus founded the firm in 2008 following two decades in institutional real estate at leading North American investment banks. He oversees all investment decisions and maintains direct relationships with the firm's institutional partners.
Former Managing Director, RBC Capital Markets · 22 years institutional real estate
Victoria Ashworth
Managing Director, Canada
Victoria leads all Canadian investment activity, overseeing origination, underwriting, and asset management across the firm's Toronto, Vancouver, and Calgary portfolios. She joined the firm in 2011 from CBRE's institutional advisory practice.
Former VP, CBRE Institutional Advisory · 17 years Canadian real estate
Marcus Delacroix
Chief Investment Officer
Marcus is responsible for the firm's investment strategy, portfolio construction, and risk management framework. He brings deep expertise in cross-border capital allocation and has overseen more than $1.8 billion in transactions since joining in 2013.
Former Director, Brookfield Asset Management · CFA Charterholder · 19 years
Serena Okafor
Head of Capital Markets
Serena manages the firm's investor relations, capital raising, and institutional partnerships. She joined in 2016 and has been instrumental in expanding the firm's investor base across North America and select international markets.
Former VP, Investor Relations, Oxford Properties · 14 years institutional finance
Invest with a Firm That Thinks in Decades
We welcome introductions from accredited and institutional investors who share our conviction that disciplined, long-term capital allocation is the only reliable path to enduring wealth.