CARMEL – CRG Residential announced that David Powers has assumed the role as president, succeeding firm founder Chris Reid, who continues as company CEO. The company also announced that Andrew Browning will replace Powers as chief financial officer.
In his role as chief financial officer since 2016, Powers’ financial leadership has been instrumental in driving exponential growth of CRG’s operating company, as well as the development of its real estate investment portfolio to include over 3,300 units valued at more than $775 million.
“I am gratified that Dave has accepted the new responsibility of leading our firm at a time of significant growth and a record year of expansion,” Reid said. “He understands our business and is committed to advancing new strategies as we seek to further develop and expand our portfolio in communities throughout the region and eastern United States.”
Powers’ duties as president include oversight of CRG’s financial operations/strategy, real estate development operations, asset management and capital markets activities.
About David Powers
Powers assumes the leadership role as CRG celebrates its 30th anniversary in business and as it prepares for a 16,000-square-foot headquarters expansion to accommodate additional office space, a warehouse, and a training facility.
Prior to joining CRG, Powers worked for more than 11 years for some of the leading homebuilders in the U.S. He received his M.B.A. from Kelley School of Business at Indiana University and a bachelor’s degree from Miami University.
About Andrew Browning
Andrew Browning comes to CRG from Renu Management where he was responsible for all accounting and financial reporting activities for a portfolio of over 7,500 single-family rental properties. Before his tenure at Renu, Browning spent seven years at Katz Sapper Miller in various roles with the firm. In his new position at CRG, Andrew will lead the day-to-day accounting and finance functions, administration, risk management, taxation, and compliance. Browning earned his bachelor’s degree from Indiana University and is a certified public accountant.