Livabl’s vice-president of national business partnerships, Matthew Slutsky, sits down with one of Canada’s most dynamic entrepreneurs, Miles Nadal, founder and executive chairman of Peerage Capital. Miles has built and partnered with some of North America’s most respected real estate brokerages, including Sotheby’s International Realty, Chestnut Park, and Baker Real Estate. Over the years, he has made bold bets on the Canadian real estate market through booms and slowdowns, always guided by a philosophy of investing with passion and purpose.
In this episode of Livabl Launch, Miles shares insights from his journey as a self-made entrepreneur, his approach to building businesses and partnerships, and his commitment to philanthropy and mentorship. From humble beginnings to creating a multi-billion-dollar empire, Miles reflects on the lessons, strategies, and principles that have guided him, as well as the ways he continues to shape the future of real estate and entrepreneurship in Canada.
Passion Drives Every Move
Matthew Slutsky: I’ve heard you talk about investing with passion. Where did that philosophy come from?
Miles Nadal: Everything I do, from collecting, philanthropy, building businesses, or mentoring, I try to do with great passion. It brings enjoyment, satisfaction, and gratification.
Matthew Slutsky: When it comes to real estate, is that also about passion?
Miles Nadal: Yes. Personally, I love our family properties, like Muskoka, our Toronto home, and Palm Beach. Professionally, we manage millions of square feet in self-storage, condos, and luxury real estate. My goal is to find iconic, irreplaceable assets with lasting value.
From Humble Beginnings to Empire
Matthew Slutsky: Can you share your first entrepreneurial ventures and pivotal moments?
Miles Nadal: I was born in 1958 in a small apartment. I borrowed $500 for a Visa card at eight. My first business was photography, which grew into advertising and marketing. In 1987, we went public, and over 35 years, we built a $2.3 billion enterprise. After retiring, I focused on stable, sustainable businesses like Peerage Realty Partners.
Partnerships That Work
Matthew Slutsky: How much autonomy do local partners have?
Miles Nadal: We evolved into integrated partnerships. Partners shape strategy at the operating level, while our support center provides resources in finance, PR, marketing, and strategy.
Matthew Slutsky: Are you still acquiring businesses or just deepening current ones?
Miles Nadal: Both. We consolidate, grow organically, and pursue strategic acquisitions. Ambition in adversity has always guided us.
Betting on Real Estate for the Long Term
Matthew Slutsky: Do you still feel confident about previous acquisitions?
Miles Nadal: Absolutely. Brands like Sotheby’s are irreplaceable. Markets fluctuate, but high-quality assets and financial resilience ensure long-term success.
Matthew Slutsky: What about opportunities in Canadian pre-construction real estate?
Miles Nadal: We manage $65 billion in contracts. Inventory should clear by 2027. Immigration drives demand, and while it may not reach the 2022 boom, the market will remain strong.
Curiosity Fuels Success
Matthew Slutsky: How does the TED Lasso quote “Be curious, not judgmental” apply to your work?
Miles Nadal: Curiosity is key. I ask questions everywhere and listen. It helps me engage, learn, and uncover opportunities others may miss.
Matthew Slutsky: How do you choose business partners?
Miles Nadal: Fit, competency, and values are critical. I have 12 criteria, from trust and generosity to listening skills and shared passion. Understanding luck and mentorship is also important.
Giving Back with Purpose
Matthew Slutsky: How do you decide what causes to support?
Miles Nadal: I started as a beneficiary of generosity. Philanthropy is a privilege, not an obligation. I support causes my family relates to and where we can make meaningful impact.
Matthew Slutsky: How do you measure success when the returns aren’t financial?
Miles Nadal: Emotional impact matters most. For example, providing scholarships is about helping people pay it forward.
Matthew Slutsky: Any advice for young entrepreneurs wanting to give back?
Miles Nadal: Start now, even modestly. Time, money, or expertise matters. Impact grows over time and brings fulfillment.
Legacy in Action
Matthew Slutsky: What are your next legacy initiatives?
Miles Nadal: Arboro helps Canadians buy their first home, lowering the average age from 40 to 30. The second is a school of entrepreneurship with free tuition for aspiring founders. Both initiatives combine business insight with social impact.
Leading with Empowerment
Matthew Slutsky: How have your leadership principles evolved?
Miles Nadal: Empower talent, give autonomy, and align values. I focus on succession, mentoring, and building complementary teams for the common good.
Matthew Slutsky: What does your perfect no-work day look like?
Miles Nadal: I spend time with family, enjoying simple pleasures like sunsets, boating, and meals together. Humility and presence matter more than luxury.
Matthew Slutsky: Miles, thank you so much for being on the show.
Miles Nadal: It was a privilege. I’m grateful for this conversation and the ongoing relationship.
