On Monday, Miami-based BentallGreenOak, now going by BGO, announced Brad Caco as the company's new Head of Canadian Development, a role that will see him responsible for the company's $8B real estate development pipeline in Canada.
The company's announcement did not say when the change is coming into effect, but Caco's LinkedIn indicates that he took over the role in August.
Caco joined Bentall Kennedy in 2016 as its Senior Vice President of Development, before Bentall Kennedy merged with GreenOak Real Estate in 2019.
He then assumed the role of Managing Director of Development for Eastern Canada in 2019, playing a first-hand role in growing the company's development pipeline, which currently consists of 19 projects representing a value of over $4.8B.
"Brad's promotion into the role of Head of Canadian Development is a testament to his hard work and record of exceptional delivery for our clients over the past seven years," added Canadian Head of Investment Management and Chief Investment Officer Christina Iacoucci. "Our vertically integrated business in Canada places high demands on our development team to aim to deliver strong results for our clients. Our deep range of development capability has become a strategic advantage and key differentiator for the firm. We look forward to growing the strength of our development offering for our clients through Brad's leadership."
"It is a great privilege to work with the incredible group of professionals that make up our diverse team at BGO," Caco said in a release on Monday. "We collectively strive to conceive and construct communities that will have a meaningful social and sustainable impact. It is satisfying to know that with each development program we undertake, we are delivering tailored projects that become transformative additions to the communities and local economies where we’ve invested on behalf of our clients."
Asked to reflect on 2023 for the company, Caco tells STOREYS that he thinks the company has navigated the tough conditions well.
"I'm very proud to be a part of a diverse team of professionals that has been successful in navigating headwinds unlike anything we have seen in recent times," he said. "It takes a great deal of industry knowledge, patience, and creativity to deal with post-pandemic challenges in global economic uncertainty, geo-political volatility, and the changing legislative framework that we experienced across Canada over the past 18-24 months."
Looking towards the coming year, Caco tells STOREYS that he's "cautiously optimistic."
"We are working on everything from single asset intensification programs up to master-planned mixed-use communities that are generational," he said. "I'm in this business because I am passionate about building sustainable communities. We have a tremendous responsibility as fiduciaries, and, with that, an opportunity within the BGO portfolio to build communities that positively contribute to our cities for generations to come."
BGO's global portfolio — it has offices in 28 cities across 14 countries — consists of approximately $81B USD of assets as of September 30, 2023, the company says, with a client list that includes over 750 institutional clients.
In Canada, according to the company's website, BGO manages over 400 properties totaling over 64,000,000 sq. ft, and has offices in Toronto, Ottawa, Montreal, Winnipeg, Edmonton, Calgary, and Vancouver.
This article has been updated with additional comments from Brad Caco.