Grosvenor Americas, the privately-owned property investment and development company, active in San Francisco, Vancouver, Washington DC, Seattle, Calgary, Los Angeles and Chicago, has begun 2019 under new leadership. Taking over as CEO, Steve O’Connell succeeds Andrew Bibby, who retired at the end of December after ten years in the role.
Drawing on his background in engineering and construction management, Steve joined Grosvenor in 2011 and led Grosvenor’s San Francisco Bay Area Development team where he successfully established its multifamily residential program. In 2015 he was promoted to Managing Director of Investment to oversee the Company’s Investment and Co-Investment activities throughout the USA and Canada.
“I want to thank Andrew Bibby for his leadership at Grosvenor Americas,” said O’Connell. “Andrew leaves us very well positioned to build on his success. Over the last decade, we have been very active and highly focused on transformative development projects and the creative improvement of our investment portfolio. In each of our offices, we have fantastic teams who drive value by thoughtfully crafting high-quality properties. The sweet spot for us is when we can drive that value while also making a positive contribution to the neighbourhoods and communities in which we’re active.”
O’Connell’s experience is based in Grosvenor’s North American markets and includes three years in South East Asia and Australia. He holds an Engineering degree from McGill University and an MBA from the University of California Berkeley – Haas School of Business. Steve is a UC Berkeley Fisher Center Policy Advisory Board and Executive Committee member, a member of the Bay Area Council Board of Directors and belongs to an Urban Land Institute (ULI) National Mixed-Use Development Council.
Grosvenor’s $5 billion active development pipeline includes Crescent, a boutique residential development on top of Nob Hill in San Francisco; The Pacific, a high-quality high-rise in downtown Vancouver; and Central, a recently completed transit oriented 250-unit residential project in downtown Silver Spring outside Washington DC.
The Company’s Investment programme adds value to residential, retail and commercial assets in vibrant and walkable locations. Investment projects in historic neighborhoods, such as the renovation of 1500K Street in Washington DC, and similar assets in Jackson Square and Union Square in San Francisco complement more contemporary property activities in all of its markets, including Seattle, Los Angeles, Chicago, Calgary and Vancouver.
Grosvenor’s Structured Development Finance programme facilitates development projects that address housing supply shortages by providing capital to developers in key markets on the West and East coast.
Steve looks forward to talking with you about Grosvenor’s long-term vision and commitment to making positive contributions to the communities where Grosvenor Americas is active.
About Grosvenor Americas
Grosvenor Americas is an active developer, investor and co-investor in Canada and the USA. Our strategy is to invest in vibrant urban locations where we can add value and address some of the challenges that face our markets, including housing supply.
With offices in San Francisco, Vancouver, Washington DC and Calgary, and assets in Seattle, Los Angeles and Chicago, Grosvenor Americas activities are focused in three areas; our Development program includes a significant pipeline of high quality projects in vibrant neighbourhoods. Our Investment program adds value to residential, retail and commercial buildings in high quality, walkable locations. Our Structured Development Finance program invests with developers that build apartment, condominium, town home and mixed-use developments across our active markets.
Grosvenor Americas is part of the Grosvenor Group, one of the world’s largest privately-owned property companies which develops, manages and invests in property in more than 60 cities around the world. As of December 31, 2017, Grosvenor Americas had C$5B in assets under management and a C$4B development pipeline. www.grosvenor.com
About Grosvenor Group
Grosvenor Group is one of the world’s largest privately-owned property companies. We develop, manage and invest in property in more than 60 cities around the world.
Through the activities of Grosvenor Britain & Ireland, Grosvenor Americas, Grosvenor Asia Pacific and Grosvenor Europe we diversify the Group’s property portfolio by geography, sector, activity, currency and management teams.
Our Indirect Investment business further diversifies the Group’s property interests beyond the expertise and strategies of our four regional Operating Companies. It invests Grosvenor’s capital in Africa, Australia, Europe and North and South America. Grosvenor Group’s purpose is to deliver lasting commercial and social benefit. To live up to this ambition, for over 10 years we have adopted an approach we call ‘Living cities’ which aims to guide and inspire our property activities.
Achieving strong commercial returns enables our activities to be enduring. Applying our expertise with a far-sighted perspective to improve properties and places provides a positive impact on communities, neighbourhoods and cities.