Concert’s David Podmore retires as CEO

Monday, June 5, 2017

David Podmore has announced his retirement as CEO of Concert Real Estate Corporation. Effective June 2, 2017, Brian McCauley assumes the role of president and CEO 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, who is widely recognized as one of the most influential contributors to Greater Vancouver’s real estate industry.

“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.”

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 more than $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 and CEO of Concert Infrastructure Ltd.

McCauley joined Concert in 1994 and 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.

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 Podmore in 1989, Concert has developed over the years nearly 12,000 rental and condominium homes and built or acquired 11.5 million square feet of income-producing properties. 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.

“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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