Grosvenor has named a new Canadian leadership team that the real estate company says reinforces its long-term commitment to Metro Vancouver as one of its core markets.

On May 11, the organization named its new executive leadership team for Grosvenor Property Canada. All the promotions were internal. 

The new leadership team is comprised of: 

• Graham Drexel, COO and CFO;
• Jane Goode, EVP people and performance;
• Robert Duteau, EVP investment, leading both investment and asset management in Canada; and
• Michael Ward, EVP development, leading both development and private capital in Canada. 

Grosvenor is a London, England-headquartered owner and developer that has operated in the Lower Mainland of B.C. for over seven decades. As of year-end 2025, Grosvenor Property Canada had total assets under management worth $2.8 billion.

"We've come... together to rethink what the strategy is for the Canadian operations," Drexel, Grosvenor’s COO and CFO, told RENX in an interview in the wake of the announcements.

Three major Metro Vancouver properties

The promotions reflect the talent within the Canadian business and the company's confidence in the opportunities ahead, said James Raynor, chief executive of Grosvenor Property. "This team brings deep local expertise and a proven track record of growing platforms, delivering complex projects and building strong teams,” Raynor said in a release.

Drexel said the team is doubling down on its strengths, which locally means developing large-format industrial and mixed-use communities. He said the refreshed strategy is centred on a clear pipeline of high-quality projects, including Brentwood Block, Annacis Island and Broadmead Village. 

At Brentwood Block, Grosvenor is working on one of the largest development programs in its Canadian history, creating 1,279 new rental homes alongside 160,000 sq. ft. of commercial space and 451 condominiums as part of its first phase. 

Grosvenor initially developed its industrial park on Annacis Island in 1955. The 185-acre site has remaining development potential.

The recent acquisition of a 100 per cent interest in Broadmead Village, an open-air, grocery-anchored retail centre on Vancouver Island, further strengthens the portfolio, the company said. 

B.C. remains focus as Grosvenor divests U.S. portfolio

Drexel said Grosvenor's full Canadian focus is on B.C. 

The local market will continue to provide the returns on investment the company wants and needs, Drexel said. "I think one of the unsung heroes of the Vancouver economy has been the Port of Vancouver, and that just… bolsters us to... continue on our investments in industrial."

Meanwhile, Grosvenor has been shifting its approach to development and investment in the U.S. The company plans to sell its existing U.S. portfolio over the next three to five years. Drexel said the plan is to use some of those funds to reinvest back into the U.S. indirectly through partnerships or via active managers. "We'll be more of a passive partner," he said.

"I'm not sure that there's anything to read between lines," Drexel added, when asked to elaborate on the motivations behind its U.S. divestment and the Canadian refocus. 

He said Grosvenor views the U.S. as more of a trading environment rather than a long-term buy-and-hold situation within its strategy. "As an organization, we do believe in areas of focus," he said.

Construction continues at Brentwood; new warehouse for Annacis Island 

Construction of the first phase of Brentwood Block continues. The initial phase of development is occurring as a joint venture between Grosvenor, a Canadian pension fund and B.C.-based investment firm Westerkirk Capital Inc.

Grosvenor acquired the site on the southern side of Lougheed Highway in stages beginning in 2016. 

The project is designed to eventually hold six towers and approximately 3,500 condo and rental homes. 

Other features at Brentwood Block include 50,000 square feet of green space, a 44,000-square-foot grocery store and other retail stores next to the SkyTrain Station. It is intended as a pedestrian-only development.

The first phase will include 1,730 homes, including 451 condos in a 41-storey tower. 

"Obviously… the pre-sale market has had some disruption," Drexel said, but added that sales appear to be accelerating in recent weeks and about 180 homes have now been sold, or 40 per cent of the units in the planned condo tower. 

"We continue to have strong interest in the project with steady visits to our presentation centre and have confidence that we will add pre-sales through completion in 2029," he said.

Meanwhile, at Annacis Business Park, Grosvenor is planning a new industrial warehouse building. 

Drexel said the building will be roughly 150,000 sq. ft. and Grosvenor hopes to start construction next year to deliver the building within 18 months of breaking ground. "That would be the first time since 2013 that we've developed a building out there." 

"Long term, we believe in the fundamentals of Vancouver," Drexel said. "It's a gateway city; it's a global city. We think that there's a lot of really good things that are happening."

He said ongoing challenges include Canada's reduced immigration and the potential impact lower population growth will have on housing. Broader geopolitical turbulence in the world isn’t helping. "That just raises the question of uncertainty," Drexel said.

People are looking for stability. "We see that in Vancouver."