Who We Are » Foray Developments

Meet Foray

Starting New with Foray

“Foray” means taking a new approach, becoming involved in a new activity or sphere. Opening your heart and mind to change.

Darin Rayburn

In 2021, Darin Rayburn left a storied career and position as President and CEO of one of Alberta’s largest and most successful real estate development and asset management companies to begin a new venture. Darin reimagined his side business, then called MBA Developments, to create Foray. The initial purpose of MBA, which started in 2002, was to build a family legacy, but through a keen eye for opportunity — it grew beyond its origins to become something bigger. Foray Developments is a culmination of all Darin’s years of experience and desire to support the vision of local investors to create a thriving, connected community in a city that banded together and uplifted local businesses and ventures during a global pandemic.

Foray demonstrates Darin’s passion for bringing to life the vision of local entrepreneurs and businesses.

Experience in:

Multifamily
Retail
Office
Mixed use
Industrial
Manufactured home communities
Golf courses
Residential land development
Commercial land development

What We Do

Investment

Our experience in acquisitions, financing and raising capital makes Foray an ideal partner for your real estate investments of every size.

Management

Let us handle the day-to-day management and execution of your project from start to finish.

Development

Planning, design, construction, and leasing — Foray takes care of it all. Our focus is on the end-user and the community so that your property is developed to its full potential.

Consulting

Are you looking for an advisor with vast experience in real estate, development, acquisition, leasing, management, financing or raising capital? Foray can support and advise in any area of a land development project.

Keeping it Local

Foray believes it’s the number of small to medium-sized businesses in Edmonton that drive the economy — underscoring their importance to the city. When you’re local, you see it, feel it and breathe it. Being entrenched in the community is an important part of understanding what makes it tick. Foray considers it a great privilege to be a local Edmonton business.

All About #Yeg

We’re passionate about local businesses.

Growth and Transformational Change

Our goal is to see the city grow to new heights.

Three Decades in the Biz

Darin Rayburn’s 30 years of experience include 19 spent at Melcor, where, along with a fabulous team, he played an integral part in building Melcor’s investment properties division from 643,000 sf in 2002 to a diversified portfolio of 4,664,000 sf in 2021. He also helped raise Melcor’s annual revenue to $315 million in 2021, with assets valued at more than $2.1 billion.

He was instrumental in the formation and initial public offering of the Melcor REIT — taking its value from $407 million in asset value at IPO in 2013 to $736 million in asset value in 2021, with
revenue increasing from $39 million annually on IPO in 2013 to $74 million in 2021.

At Melcor, Darin was fortunate to get a taste for all sizes and types of projects. With Foray, he sought out the investment opportunities that didn’t fit the corporate portfolio — smaller, niche investments that fuelled his passion for breathing new life into the city, giving back to the community through direct involvement and growth.

To Darin, Foray is a springboard. A way to gather and pass all the things he’s been fortunate enough to learn from three decades in the industry to a new generation of local visionaries.

Years of Experience

Years at Melcor

Properties Owned