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  <url>
    <loc>https://www.belkorp.com/who</loc>
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    <lastmod>2025-10-15</lastmod>
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      <image:title>Who We Are - Our History</image:title>
      <image:caption>Belkin Inc, the predecessor to Belkorp, was founded by Morris Belkin in Vancouver in the late 1940s. While attending the University of British Columbia and working for the student newspaper, The Ubyssey, Morris acquired College Printers Ltd. to ensure continued production of the paper. Over the following decades, Morris and his wife Helen, transformed the printing business into Canada’s largest paperboard packaging company, Belkin Packaging.   After Belkin Packaging was sold in 1987, their son, Stuart Belkin, was appointed by The Board to the role of Chairman and Chief Executive Officer. The company went forward first as Balaclava Enterprises Ltd. and subsequently as Belkorp Industries Inc., and over time, Stuart led the firm to focus on real estate, wholly-owned operating businesses, and principal investments.   Belkorp’s success is attributed to decades of hard work, a commitment to learning from experience, a carefully selected team exhibiting strong business acumen, and a dash of luck. A selection of past and present holdings includes Dominion Lending Centres, Rogers Sugar, and Wastech. See our Investments section for the full list.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Who We Are</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/investments-overview</loc>
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    <priority>0.75</priority>
    <lastmod>2025-06-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1591747947416-OIU1AX138E77X44BRVPX/Orion.jpg</image:loc>
      <image:title>Investments</image:title>
    </image:image>
    <image:image>
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      <image:title>Investments</image:title>
    </image:image>
    <image:image>
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      <image:title>Investments</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/community</loc>
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    <priority>0.75</priority>
    <lastmod>2025-07-11</lastmod>
    <image:image>
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      <image:title>Community Impact</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592260922408-4TQBUZSYDOPBR6027KZL/Belkorp+Volunteers+20191206_200518_resized.jpg</image:loc>
      <image:title>Community Impact</image:title>
      <image:caption>Belkorp team members and their families volunteering at the Boys &amp; Girls Clubs’ Kivan’s Comfy, Cozy Holiday Celebration</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592261341017-RGK8HE03DL8QJ3VTSPYK/belkin-room.jpg</image:loc>
      <image:title>Community Impact - The Salvation Army Belkin House</image:title>
      <image:caption>A residential program facility in the heart of Vancouver dedicated to “breaking barriers – transforming lives”, the Salvation Army Belkin House is a place of healing, where the battle is fought against homelessness, hunger, and despair. The Belkin House assists the homeless and those at risk of homelessness, to become self-sufficient and independent through the reduction of physical, emotional, social, and spiritual barriers.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592261378673-GM4XVRA5CDEMAY4MGCZ2/belkin+art+gallery.jpg</image:loc>
      <image:title>Community Impact - The Morris and Helen Belkin Art Gallery “The Belkin”</image:title>
      <image:caption>Belkorp and our founders, the Belkin family, have been long-standing supporters of the arts. On June 14, 1995, the Fine Arts Gallery at the University of British Columbia was rededicated the Morris and Helen Belkin Art Gallery in honour of the Belkin’s tremendous support throughout the years. The Morris and Helen Belkin Art Gallery, “The Belkin”, is mandated to promote the understanding and discussion of contemporary art and issues in art history. The gallery is committed to a research mandate, an international perspective, and to the goal of fostering a civil society.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/home</loc>
    <changefreq>daily</changefreq>
    <priority>1.0</priority>
    <lastmod>2025-07-11</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1602624054306-7HW5RM5QPA10S1RG8IXA/Belkin%25252BHouse%25252B-%25252Boutside%25252Bview%25252Bat%25252Bday.jpg</image:loc>
      <image:title>Home</image:title>
      <image:caption>The Salvation Army Belkin House - investments that give back to the community</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1593123813065-NMHVQQ9YMSWRYIB2MHL7/Morris+Belkin+-+newspaper+article.jpg</image:loc>
      <image:title>Home</image:title>
      <image:caption>Family-led since the 1940s</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/807dad69-e2e8-4f18-8a12-6bd08a99c08d/Big+Sky+Golf+Club.jpg</image:loc>
      <image:title>Home</image:title>
      <image:caption>Driven by a patient investment philosophy focused on long-term growth and value creation</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1591312725588-N53KVN5FNLVULAQSE1XD/image-asset.jpeg</image:loc>
      <image:title>Home - A family-founded company</image:title>
      <image:caption>Headquartered in Vancouver, British Columbia, we are a private company with three core areas of focus: real estate, wholly-owned operating businesses, and principal investments.  Led by Stuart Belkin and guided by an experienced leadership team, our company operates with a patient investment philosophy passed down since the late 1940s, by founders Morris and Helen Belkin.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1599861602561-JGEQ64JUEZVDYWXFMGJZ/image-asset.jpeg</image:loc>
      <image:title>Home - Community-minded</image:title>
      <image:caption>Founded on the importance of community, we give back to the people and places where we invest. This has led our firm to become a significant contributor to charitable causes in British Columbia.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/investments/principal-investments</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-06-20</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1599675393430-FBF8PS3OCYIV8VRWLB5Q/logo.lantic-rogers+%281%29.png</image:loc>
      <image:title>Principal - Rogers Sugar</image:title>
      <image:caption>Rogers Sugar Inc and its operating entity, Lantic Inc, is Canada’s largest refined sugar distributor</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1613495740998-UDHZ3WBS46BUNZ5C8PKG/DLC-Logo-Standard-EN-01.png</image:loc>
      <image:title>Principal - Dominion Lending Centres</image:title>
      <image:caption>Dominion Lending Centres is the largest residential mortgage broker network in Canada</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/contact</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2024-05-28</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/privacy-policy</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2020-09-21</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/disclaimer</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2020-09-21</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/historical-investments</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-06-20</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1599675795968-D0U8L9MTEBM1UCYL933W/Belkin+Packaging+logo+v2.jpg</image:loc>
      <image:title>Historical</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1593534235494-D6KL7ZCOAKW9QV1IWY2C/chip-reit.gif</image:loc>
      <image:title>Historical</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1593535615038-TX1T9DDL4HWDRJYBFOVR/mow.jpg</image:loc>
      <image:title>Historical</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1593535660098-W9NJ893039IXT2DVQZE7/newstech-1.jpg</image:loc>
      <image:title>Historical</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603315747517-RISXA9YU30KNVF1TRZPB/Belkin+Paper+Stock+logo+-+internet+archive.jpg</image:loc>
      <image:title>Historical</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1606164563924-UMB6XCVQIB0LOY2B77YY/Mohawk+Lubricants+Ltd+logo+-+v9.png</image:loc>
      <image:title>Historical</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/governance</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-07-10</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/team</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2026-03-25</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/rest-of-team</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2026-03-25</lastmod>
  </url>
  <url>
    <loc>https://www.belkorp.com/operating-businesses</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-07-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1605743707845-WUYC1QNLMUUEVZ04TEIN/RJM+1+June+2016.JPG</image:loc>
      <image:title>Operating Businesses</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1726697087995-N7WKP4I972UCKFOVD8ME/unsplash-image-SoT4-mZhyhE.jpg</image:loc>
      <image:title>Operating Businesses</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/37ef2b8d-6fcf-4db2-adaf-7d5071d81ceb/Wastech+Services</image:loc>
      <image:title>Operating Businesses</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/323aa0cf-98d9-4e92-851e-5b5c8fec226c/bigsky_2021_chomlackphoto-28+-+high+res.jpg</image:loc>
      <image:title>Operating Businesses</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1606508489627-2YGH3II807PHWWJBSKI1/belkorp+ag+logo.png</image:loc>
      <image:title>Operating Businesses - BelkorpAg is the largest John Deere dealer in California with 8 locations in the North Coast and Central Valley. Since 2011, BelkorpAg has been recognized as a trusted equipment dealer.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1600877874329-NRCHTKRO616NIZ1G6R3I/LetkoBrosseau_logo_horizon%2Bdescripteur_RGB.png</image:loc>
      <image:title>Operating Businesses - Belkorp is a founding shareholder of Letko, Brosseau &amp; Associates Inc, a global asset manager with over $20 billion in assets representing more than 350 institutional investors and several thousand private clients.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1613495740998-UDHZ3WBS46BUNZ5C8PKG/DLC-Logo-Standard-EN-01.png</image:loc>
      <image:title>Operating Businesses - Belkorp is an investor in Dominion Lending Centres, the largest residential mortgage broker network in Canada.</image:title>
      <image:caption>Belkorp is a recent investor in Dominion Lending Centres via Founders Advantage Capital</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1604344782608-MH2HT6Q2PUU4CO8NTUMZ/CHL_Horizontal+Logo_Full+Colour.png</image:loc>
      <image:title>Operating Businesses - The Campbell Hill Landfill provides environmentally-sound solid waste disposal services on a commercial contract basis. Committed to upholding the highest environmental standards, the landfill is unique in design and operations.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/7e10a092-1025-4205-b48d-90aec9deb77d/atsource_logo_with_tagline_full_color_rgb_531px%40144ppi.png</image:loc>
      <image:title>Operating Businesses - AtSource is a leading supplier of waste and recycling solutions throughout Canada and northwestern USA, and is committed to reduce the negative impact of waste disposal on the environment.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/e575a93d-8ba3-401a-b00a-20d8a9e3b705/Wastech+Services+is+Belkorp%27s+environmental+division+based+in+British+Columbia%2C+Canada</image:loc>
      <image:title>Operating Businesses - Wastech operated the Cache Creek Landfill and four transfer stations for over 20 years. Today, Wastech, along with the Village of Cache Creek, is responsible for the post closure care and maintenance of the Cache Creek Landfill.</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/a7e3da15-baaa-422c-b5cc-e2b9bb1000fa/bigskylogo_puregolf.png</image:loc>
      <image:title>Operating Businesses - Big Sky Golf Club is a premiere golf course located in Whistler, British Columbia. Ranked by BBC as the third most beautiful sports arena in the world and voted #1 public golf course in British Columbia by BC PGA, Big Sky Golf Club offers a golf and recreational experience second to none.</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.belkorp.com/real-estate</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-07-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/a1d4fd08-4680-4a63-ad3a-f5738d83313e/Scout.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Scout - Seattle, Washington</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603235159970-CWMKB86UIYLJ4FTK46Q3/54b9375069fe3343.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Indigo - Phoenix, Arizona</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603235818296-8OH9ZEFL3H8ZX6QJMPUD/14.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Orion - Seattle, Washington</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603234905436-4C0MFHG85B918P9XY2ER/Thrive_10.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Hidden River - Seattle, Washington</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603235319839-V57QHOZZB58S13J4JHBB/Model_2_09.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Tree - Austin, Texas</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603236191868-V710REV0S3QKWHQ347YO/MLS-6-Large-1030x687.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>The Eden - Seattle, Washington</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592247375652-WMOVMUHZ8L3UHW7NB4NI/Som+front+office.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Somerset - Austin, Texas</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603236323057-3QISWUF9W4P56OKHTLS2/_G7A6512RGB-sm.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>North Bethany Ridge - Portland, Oregon</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603235554857-KIMMYKFUJULQFA7DW361/20120824_Oaks_Techridge_MG_184-2079971644-O.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>The Oaks at Techridge - Austin, Texas</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592247499360-MOQ8MYL13HGBEIRPA9ZD/5761e468c2fd3827.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>San Tierra - Phoenix, Arizona</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1603234998141-7EH69ZAW5V1GXVQ3Q2Y0/Office.jpg.jpg</image:loc>
      <image:title>Real Estate</image:title>
      <image:caption>Vista Ridge - Seattle, Washington</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592001281056-SJ13LVVXO4NO4WD8745J/20120824_Oaks_Techridge_MG_174-2079944079-O.jpg</image:loc>
      <image:title>Real Estate - Multi-Family</image:title>
      <image:caption>With our long-term hold perspective and pride of ownership, we provide well-maintained homes at competitive prices with exceptional customer service. Our multi-family portfolio consists of core, core plus, and value add assets in urban and suburban locations totalling approximately 4,000 units across four US markets: Seattle, Portland, Phoenix, and Austin.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/fe17fddc-3a7c-4056-a99f-5fc2cc1c86a8/2388+%26+2440+Canoe+Avenue%2C+Coquitlam%2C+Photos_Aug2024+%2831%29.jpg</image:loc>
      <image:title>Real Estate - Industrial</image:title>
      <image:caption>Belkorp’s industrial portfolio is concentrated in British Columbia’s Lower Mainland, ranging from heavy manufacturing and general warehousing to small bay flex tenants.</image:caption>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1607047689969-C9P9GPTOMB9J0UG0G1BB/CItyLink+-+edited+v10.png</image:loc>
      <image:title>Real Estate - Debt Financing</image:title>
      <image:caption>Belkorp provides secured financing on a select basis to high quality real estate in core markets. Our typical structures include interim financing (senior and mezzanine debt), construction financing and structured debt.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5ed9478f266fc73e159353ea/1592002278314-ECZV3ZFE5EO8NSZ1BTVD/orion-rooftop.jpg</image:loc>
      <image:title>Real Estate - Growth</image:title>
      <image:caption>Belkorp is expanding and upgrading its real estate portfolio with a focus on core locations within our current markets. Sought after properties include those with high barriers to entry, desirable livability, and sustainable economic and industry growth. Strategic partnerships, debt financing, direct investments, and developments will drive our real estate growth.</image:caption>
    </image:image>
  </url>
</urlset>

