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Who We Are

With over 15 years and $6+ billion of combined real estate experience, Lumina's leadership comes from a diverse background of real estate development, equity research and private equity. Lumina provides one-of-its-kind tailored services to real estate developers, private equity, real estate operators and brokers to help them evaluate and market investment opportunities.

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Michael Pennington, CFA, MBA

Managing Partner

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Michael comes from a background in real estate equity research, where he provided analysis and actionable investment insights on REITs of all major property types. He has co-authored over 200 research reports read by some of North Americas leading institutions and real estate investment groups. Michael holds an MBA from the University of Toronto Rotman School of Management.

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Zulfiqar, CFA, MBA

Managing Partner

Hussain comes from a background in real estate development and private equity, where he was involved in the deal cycle from acquisition due diligence and analysis through to asset management and disposition. With 8+ years experience in the real estate industry, he has been involved in more than $5 billion worth of transactions. Hussain has an MBA from the University of Toronto Rotman School of Management and is a CFA Charterholder.

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