Sandalwood Management, Inc. was founded in 1985 in Austin, Texas. Initially focused on multi-family residential property management, Sandalwood saw dynamic diversification after the 1988 acquisition by Joel Ospovat. Operations expanded across 14 states and commercial real estate was added to the firm’s portfolio. In 2000, Sandalwood entered the Canadian market with the acquisition of 13 shopping malls in the province of Quebec.