CAPREIT names Brad Cutsey as new CEO replacing retiring Mark Kenney

Canadian Apartment Properties Real Estate Investment Trust (TSX: CAR.UN) announced Mark Kenney will retire as president and CEO, with Brad Cutsey appointed as his successor effective July 2.

Kenney, who spent nearly 30 years with CAPREIT, will also resign from the board of trustees and be replaced by Cutsey on the same date. The leadership transition follows a succession planning process that was accelerated after Kenney indicated he was considering retirement.

The board retained a global leadership advisory firm to conduct the search, which considered candidates based on leadership capability, public company experience and strategic alignment. After what the company described as a lengthy process involving Kenney, the board unanimously selected Cutsey.

Cutsey previously served as CEO of InterRent Real Estate Investment Trust (TSX: IIP.UN) and brings approximately 30 years of experience in real estate and capital markets. His background includes roles as president of InterRent and group head of real estate investment banking, along with work as an equity research analyst at financial institutions.

Throughout his career, Cutsey has advised on transactions and financings worth billions of dollars and participated in forming several publicly listed REITs. He holds a Chartered Financial Analyst designation and graduated from Bishop's University with a Bachelor of Business Administration focusing on finance and economics.

"As the market continues to evolve, our focus will be on maintaining strong liquidity, executing disciplined portfolio management, and delivering a high-quality product for our residents," Cutsey stated in the press release.

CAPREIT owns approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of approximately $14.5 billion as of March 31, 2026.

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