As President of Redev Properties Ltd., a Canadian owned and operated commercial real estate asset management company, Richard has helped lead the firm in purchasing and managing over 25 commercial real estate properties in Canada. In leading Redev Properties since 2001, he has guided the company with the firm’s investors as the most important influence on his actions.
The key to his success has been in his ability to be mobile and anticipatory within the real estate market. These traits, along with keeping an attention on market trends allows him to make the most beneficial investment decisions for his firm and investors. Crenian’s practices of risk aversion in real estate investing have also lead to his success. Any investment he signs off on is made only after extensive due diligence. His focus on one this one investment style and doing it well has allowed the Redev Properties brand to succeed. His patience in growing an investment led his peers to nickname him “Tortoise”.
With over 30 years in commercial real estate, Richard Crenian has seen the peaks and valleys of the real estate market. This experience lends to a better understanding of how to safely and effectively navigate in the real estate world. An analogy he likes to make is that of a lifeguard. He believes that you cannot be a good lifeguard if you have not seen and saved a drowning swimmer. Crenian applies this theory to sound real estate investing.
Richard Crenian has lived on his own since the age of 16, growing up in the Western Canadian Prairies. He attended the University of Saskatchewan in Saskatoon, Saskatchewan, Canada. However, he decided to leave school before graduating to begin working with Pitney Bowes, a marketing and office equipment manufacturer.
Putting forth the same diligent effort that makes him successful today, Richard quickly became the youngest Sales Manager in Canada, overseeing men twice his age. His career has been riddled with personal achievement, including being named a top 3 Sales Representative in Canada. As a Sales Manager, he also led his team to Branch of the Year honors.
Looking to continue to grow, Richard Crenian moved on from Pitney Bowes at 21 to start a real estate development company based out of Saskatchewan, Canada. The firm focused on building and selling rental multifamily buildings.
While spending time managing this business, he also served as a Governor for Junior Achievement, Saskatchewan, sat on the advisory board at the University of Saskatchewan, College of Commerce, and participated on his Church Building Board.
Richard went on to build over 11,000 apartment and condo residences, as well as numerous retail plazas – all before the age of 30.
It was not uncommon for Crenian to produce annual sales of over $110 million in those years. His company accumulated sales numbers of over $1 billion in those early years.
In 1986, Richard left the prairies and moved to Toronto, Ontario. He was determined to pursue his dream of building property in larger cities. Crenian aspired to compete with other developers and builders within the real estate industry.
Since 2000, he has focused on buying cash flow related properties, plazas, and office buildings. He also continued to investment in certain condominium projects, mostly focused in Canada.
His work takes him all over the world, exploring and searching for new ideas. In doing so, Richard Crenian has travelled most of the world, from Africa to the Yukon. He always plans to travel far and wide on an annual basis.
More than a career-driven individual, Richard has a deep love for sports and hockey. This passion led him to participate in the Scotiabank ProAm Tournament, which raises funds for the Baycrest Alzheimer Foundation of Toronto. Like any successful person should, he looks for various philanthropic endeavors. He has been a continual top fundraiser for Baycrest Alzheimer Foundation of Toronto, and in 2013 was the top fundraiser.
In addition, Richard Crenian supports the Daily Food Bank, Sunny Brook Hospital Toronto, Covenant House, his local Church, a local Toronto school, and is involved with his local chapter of the World President’s Organization, having graduated from its younger, Young President Organization.
Crenian has an intensity and competitiveness that continues to motivate him to keep working and share his story to help those that are willing to learn the importance of diligence and perseverance. It is his belief that dreams can become reality – no matter the obstacles you will face in your life. According to Richard, his success and yours is a matter of these aforementioned qualities.
With the volatile nature of the global economy, Richard Crenian knows that as President of Redev Properties, he cannot drastically change the vision and theory behind their investing strategy. This strategy, focusing on risk-averse commercial assets will lend to securing the investments Redev Properties makes. However, with diligence and sound market observation, Crenian sees a future of steady growth, especially considering the solidified rebound that real estate markets have made recently. This thinking will be implemented in purchasing new properties and managing 25 or so properties that the real estate firm already owns.
A main element of the Redev Properties strategy is remaining in cash flow driven real estate. In conjunction with this investment started, something he believes is best practice, Crenian wants to continue his work with high net worth investors.
His lifeguard analogy is one that will always guide his actions and career. Because he has “seen and saved drowning swimmers” in his career, he knows what works well in all market landscapes, as opposed to in very specific real estate environments. Richard Crenian will undoubtedly continue to apply this theory to make sound real estate investing choices, and life and career choices.