Cutsey to Succeed Kenney as CEO of CAPREIT
By: Monte Stewart, May 8, 2026
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has announced that president and CEO Mark Kenney will retire on July 2 and be succeeded by Brad Cutsey.
Kenney will also resign from the board, with Cutsey set to join it on the same date.
“I have greatly enjoyed the nearly 30 years I have spent with CAPREIT,” said Kenney. “I would like to thank our board and management for their collaboration and partnership throughout my time as CEO. I know that with Brad, the REIT is in good hands and well-positioned for the future. I continue to be invested in CAPREIT’s success and will remain engaged throughout the transition process, supporting Brad and our management team.”
Board chair Gina Parvaneh Cody said Kenney “has led the REIT through significant growth and change, and his impact will be lasting.
“We will miss his leadership, judgment, and steady hand very much, and we are sincerely thankful for everything he has given to CAPREIT,” Cody added.
The Toronto-based REIT said the board retained a global leadership advisory firm as part of its succession planning process after Kenney indicated he was considering retirement. Following what it described as a lengthy and thorough search process, the board unanimously selected Cutsey as the new president and CEO.
Cutsey most recently served as CEO of Toronto-based InterRent REIT. He has nearly 30 years of experience in real estate and capital markets, including previous roles as president of InterRent, group head of real estate investment banking and equity research analyst with major financial institutions. CAPREIT said he has advised on billions of dollars in real estate transactions, financings and the creation of several publicly listed REITs.
“I’m excited to step into this role and lead a company recognized as Canada’s preeminent residential REIT,” said Cutsey. “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. We remain committed to driving stable, long-term cash flow growth through organic initiatives and the selective pursuit of strategic opportunities that create value for our investors.”
Cody said the board believes continuity within the senior leadership team, combined with Cutsey’s experience and leadership style, “positions the organization extremely well for the future.”
Cutsey resigned from Toronto-based InterRent in March, also leaving its board, with the REIT saying that he was going to pursue the next chapter in his career. Dave Nevins was appointed as interim CEO. Nevins is InterRent’s chief operating officer.
As of March 31, CAPREIT owned approximately 45,400 residential apartment suites and townhomes across Canada and the Netherlands, with a total fair value of about $14.5 billion.
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