On Monday, Macdonald Realty announced Dan Scarrow as the company's new President & Chief Executive Officer, taking over the roles that were previously held by two different people.
Scarrow succeeds Lynn Hsu as CEO and Jonathan Cooper as President.
Hsu, who bought Macdonald Realty in 1990 when it had a single office in Vancouver and has grown it to 24 offices in 16 cities across British Columbia, will remain with the company as Chair, while Cooper has joined Strand Development as Senior Vice President of Operations, returning to the development sector, where he has previously served as COO of Holborn Properties.
For Scarrow, the appointment marks a return to Macdonald Realty, which he originally joined in 2006 and stayed with for over 16 years, including a stint in China setting up a new office in Shanghai, before working his way up to becoming President in 2019. He then departed in March 2023, but didn't go far, joining Macdonald Realty's real estate development arm, Lyndan Properties, as President.
"It's an honour to lead a company with over 80 years of history and an exciting path ahead," said Scarrow, in a press release on Monday. "I believe the next chapter in Macdonald Realty Group's story will be our most dynamic yet."
"Dan has been a driving force behind our success for the past 15 years," added Lynn Hsu. "With the establishment of Lyndan Properties and the continued achievements of Macdonald Realty, Macdonald Commercial, Macdonald Property Management, and Macdonald Platinum Marketing, our position as BC's leading real estate organization remains stronger than ever."
According to Macdonald Realty's website, the company handles approximately 6,600 transactions each year with a transaction volume of over $7.4 billion.
Through its property management and marketing arm, it also manages over $6 billion in assets and over $2 billion in project sales. It also has the distinction of being one of British Columbia's biggest businesses owned by a woman.
The company was founded in 1944 by John Macdonald and Al Steel.
