The Concert Story
In 1989, through a unique partnership involving the City of Vancouver, the Province of British Columbia, union and management pension funds and private investors, Concert was founded with the mandate to provide assured rental housing in British Columbia.
Today, through asset class diversification and geographic expansion, Concert has grown into an award-winning, Canadian-owned, real estate enterprise involved in developing rental apartments, condominium homes and retirement communities, acquiring and developing office, industrial and infrastructure properties, and in property management across Canada.
Marking a pivotal year, 1992 represented Concert’s entry into the condominium market to meet the need for quality, home ownership. The Company’s structure was also altered as it became a real estate corporation wholly-owned by union and management pension plans.
In 1999, Concert expanded into the acquisition and development of commercial properties, and over the years has internalized functions such as acquisitions, financing, asset management, leasing, accounting and property management within the Company. This holistic, long-term approach to income-producing properties has resulted in a decision-making process that is integrated, responsive and tenant-focused.
With the opening of a Toronto office in 2001, Concert added to its assured rental housing portfolio with properties in Ontario through partnerships with Sun Life and OMERS. Subsequently, the Company expanded all of its lines of business into the Ontario marketplace, serving to geographically diversify Concert’s operations.
Redefining the traditional model of seniors housing in a way that recognized and encouraged the importance of independent living and personal choice, 2001 saw the beginning of construction on Concert’s first Tapestry Retirement Community in Vancouver. Today, cultivating the most positive aspects of aging and maturity, Tapestry continues to expand and integrate into communities across the country.
After identifying an opportunity to leverage expertise into a lucrative market opportunity that could deliver steady, long-term value, Concert Infrastructure (CIF) was established in 2010 as an independent investor, developer and manager of public infrastructure. Having developed a strong reputation for effectively delivering public projects on time and on budget, CIF has become a unique and trusted partner of governments and is well-positioned for future opportunity and growth.
In 2016, for the first time, an opportunity for new shareholders to invest in the Company’s core business emerged. Composed of Concert’s existing commercial assets – valued at over $1 billion – the fully-subscribed, diversified Canadian CREC Commercial Fund LP was formed. Maximizing long-term value for Canadian Pension Plans and other Canadian institutional investors, this open-ended fund serves as Concert’s exclusive commercial platform and is managed by Concert, which retains a 60% interest, and allows Concert to continue to grow its office and industrial portfolio.
Building on a solid track record of creating award-winning master-plan communities, Concert has assembled a 15-year development pipeline containing a cumulative 7,600 homes and 500,000 square feet of commercial space across six master-plan communities across the Greater Toronto Area, Metro Vancouver and Victoria. These communities leverage the broad-base of the company’s experience and integrate our multi-faceted and award-winning expertise across all disciplines.
Across all lines of business, Concert is dedicated to exceeding the ordinary and this philosophy has contributed to an award-winning reputation across Canada. With the backing of more than 200,000 Canadians, represented by the union and management pension plans who exclusively own the Company, Concert’s foundation is built on an unwavering commitment to the core values of integrity, honesty and service.