A recent ad posted on the Sauder School of Business website offers insight into Chip Wilson's real-estate aspirations.

Low Tide Properties declares that it's seeking a "director of asset management" to develop a short-term and long-term plan for each of its 30 properties, which are valued at "well over $200 million".

"Now it is in fast growth mode and is targeting a portfolio value of $1.5 billion in ten years" the ad states, "and it has the vision, access to capital, and the relationships to successfully meet that target."

Part of the reason is that the owner of Low Tide Properties, lululemon athletica founder Chip Wilson, is a billionaire.

He's also cash-rich. In 2014, he sold half his lululemon shares in the company for $845 million. In 2015, he sold more lululemon shares for approximately $1.2 billion.

A recent article in Business in Vancouver  reported that about 90 percent of Low Tide Properties' assets are in Vancouver, including in Gastown, Strathcona, Mount Pleasant, False Creek Flats, Kitsilano, and near Burrard Street and West 7th Avenue.

Lawsuit filed over Wilson's stock trades

Meanwhile in its most recent Form 10-K to the U.S. Securities and Exchange Commission, lululemon athletica reported that a pension fund has launched a lawsuit in connection with stock-trading by Wilson in 2013.

The Hallandale Beach Police Officers and Firefighters' Personnel Retirement and District Council Industry Pension Fund has filed "a derivative lawsuit on behalf of lululemon against certain of our current and former directors".

"Plaintiffs claim that the individual defendants breached their fiduciary duties to lululemon by allegedly failing to investigate certain trades of lululemon stock owned by Dennis J. ["Chip"] Wilson in 2013," the document states. "Plaintiffs also claim that Mr. Wilson breached his fiduciary duties by making his broker aware of certain non-public, material events prior to executing sales of lululemon on Mr. Wilson's behalf."

The document notes that the defendants have filed motions to have the action dismissed "for failure to adequately plead that demand on the board was excused and that individual defendants have filed motions for failure to state a claim upon which relief may be granted".

The issue for lululemon athletica shareholders is that the company has indemnification agreements with "certain of our current and former officers and directors".

This may put lululemon on the hook for "certain liabilities that may arise by reason of their status or services as directors or officers".

The company is also the subject of a class-action suit by former and current employees in New York in connection with overtime compensation and other earned wages.

"We are unable at this time to predict the amount of our legal expenses associated with these proceedings and any settlement or damages associated with these matters," lululemon stated.