Concert Real Estate Corporation Board of Directors Names Brian McCauley Successor as David Podmore Announces Retirement

On May 16, 2017 under Corporate Announcements

The Concert Real Estate Corporation (CREC) Board of Directors and David Podmore are pleased to announce the appointment of Brian McCauley as President & Chief Executive Officer. Effective June 2, 2017, McCauley will assume responsibility for Concert Real Estate Corporation and all related entities – Concert Properties Ltd., CREC Commercial Fund and Concert Realty Services Ltd.

“After 24 years as Concert’s Chief Executive Officer, it’s time to pass the baton to Brian McCauley,” says Podmore. “Continuing under Brian’s executive leadership, with support from the entire Concert team, I am confident the Company will continue to be highly successful, grow and provide solid returns to our shareholders – all while protecting Concert’s ethics, values, and reputation for integrity and excellence.”

With over 25 years in the real estate development business, McCauley joined Concert in 1994. McCauley has played a key role in the development of some of Concert's largest mixed-use projects and was instrumental in the Company's geographic diversification. In 2002 McCauley led the development of assured rental housing in Toronto in a joint venture with OMERS, guiding Concert’s expansion into Ontario. Named President in 2009 and Chief Operating Officer in 2012, his proven track record will continue to be invaluable to the growth and lasting success of Concert.

A passionate supporter of the real estate development industry, and an experienced and sought after speaker on real estate-related matters, McCauley presently serves on the board of the Urban Development Institute (UDI) Pacific Region as Vice Chair at Large, is a Director on the board of Junior Achievement BC and is a past Director of the Building Industry and Land Development Association of Toronto (BILD).

Co-founded by Jack Poole and David Podmore in 1989, Concert began with the mandate to provide economically-priced rental housing in British Columbia. While remaining active in the residential rental market, Concert’s activities grew far beyond those beginnings. Today, through asset class diversification and expansion across geographic lines, Concert has grown considerably.

Over the years nearly 12,000 rental and condominium homes have been developed and 11.5 million square feet of income-producing property built or acquired. The next 15 years will see the development of approximately 5,500 condominium homes, 1,500 rental homes, 600 seniors homes and 500,000 square feet of commercial property.

Under Podmore’s 28 years of leadership, Concert grew from a vision into a national enterprise with nearly $2.4 billion in committed equity and over $5 billion in owned assets and assets under management. Podmore will continue from the Vancouver office as Board Chair for CREC, Concert Properties Ltd. and the CREC Commercial Fund Investment Committee, as well as Board Chair & Chief Executive Officer of Concert Infrastructure Ltd. Widely recognized as one of the most influential contributors to Greater Vancouver’s real estate industry, his tireless dedication and commitment to success has built Concert’s excellent foundation and leaves the Company with a strong and promising future.

“Concert is well-capitalized, with an exceptional pipeline of projects secured and a very supportive shareholder base,” says Podmore. “Under Brian’s leadership, I am confident Concert is entering a promising new chapter.”

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About Concert
Founded in 1989, Concert specializes in developing rental apartments, condominium homes and retirement communities, acquiring and developing office, industrial and infrastructure properties and in property management. With operations across Canada and the backing of more than 200,000 Canadians represented by the union and management pension plans who own Concert, our commitment is to build strong, sustainable communities across Canada.

Media Contact
Julie Pilcher | Director, Marketing & Communications
JPilcher@ConcertProperties.com | 604.602.3713

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