HOLT Group

Kalinka Ivanova

In my career in real estate development, I’ve come to understand that success is about far more than closing deals—it’s about creating lasting impact through smart design, strategic execution and genuine collaboration. As Vice President of Real Estate and Development at Holt Group and previously Director of Real Estate for North America at Canadian Pacific Kansas City Southern (CPKS), I’ve been fortunate to lead and shape projects that stretch across both the U.S. and Canada, with the shared goal of unlocking value and building for the future.

My Work with Holt Group: Development That Builds Community

At Holt Group, I’ve led major capital projects that not only expand our real estate portfolio but also deliver lasting value to the communities we serve. One of the most impactful was the design and development of our state-of-the-art heavy equipment dealership in Anna, Texas. This project went far beyond constructing a building—it was about creating a high-performing, brand-reflective environment that advances both customer experience and operational efficiency. I was hands-on from site selection through consultant oversight, permitting and resolving complex utility issues. Navigating weather delays and securing a critical gas easement with Oncor required adaptability and a relentless focus on results. Despite the challenges, next month we will deliver the $55M project on budget and it now stands as a flagship model for future developments across Texas and the Southern region.

Another highlight for me was leading the early education Pre-K facility development in San Antonio. It was a complex and meaningful $33M project involving a ground lease with the City of San Antonio. Our CEO, Peter Holt and President, Corina Holt Richter donated 7.8 acres for the site—an incredible gift that laid the foundation for a public facility that will serve generations. It was an honor to structure and advance this initiative, balancing real estate logistics with civic and educational priorities. The educational center is almost complete and ready to open doors for the new school year next month.

What I’ve learned at Holt Group:

• Every great project is rooted in community context.

• Real estate finance is a tool for creative problem solving.

• Environmental and social commitments are smart business.

• Execution matters—especially when managing complex stakeholders and site risks.

My Time at CPKS: Maximizing Urban Land Value

Before Holt, I ran real estate across North America for CPKS— the largest tri-national rail network linking Canada, the U.S. and Mexico. It was high stakes, high speed and exactly the kind of challenge I thrive on. My portfolio spanned everything from infrastructure-adjacent land to city-defining urban development.

"Real estate isn’t just about assets—it’s about accountability, precision and strategy. It’s the discipline of solving high-stakes problems while building places people count on."

Two deals stand out.

First: downtown Vancouver. I orchestrated the sale of prime transit-adjacent parcels. Built a competitive bid process from scratch—tight, transparent and designed to extract maximum value. Result? $42 million on the table and total reinvestment agility for the company.

Second: downtown Montreal. I led a multi-year play to unlock air rights above live rail. Technical complexity, political layers, legal nuance—I took it all head-on. Final move? Locked in developer option agreements for vertical, mixed-use towers. It didn’t just break ground—it reset the standard for what’s possible in the region.

What I Took from CPKS:

• Urban land value is about both timing and imagination.

• Partnerships with planners and policymakers unlock hidden potential.

• High-value transactions demand clarity, discipline and trust.

Reflections for the Real Estate Business Review Community

What I’ve learned through every role is this: real estate isn’t just about assets—it’s about accountability, precision and strategy. It’s the discipline of solving high-stakes problems while building places people count on. Whether it’s a school, a dealership, a transit corridor or a city block, I approach every project with intent—driven by value, grounded in execution.

To those forging their path in development, investment or planning: stay relentless and unstoppable. Keep your standards high, your focus sharper. The impact you can make— financially, physically, socially—is real. And it’s always worth the challenge.