MINNEAPOLIS, April 30, 2026 – Opus today announced the promotion of Pete Conlon to chief financial officer and head of capital markets and Su O’Sullivan to executive vice president of accounting effective May 4, 2026. These leadership changes align with Opus’ next generation strategic plan and mark a continued step in the organization’s broader leadership evolution. In support of that plan, Opus has redefined the scope of their CFO role to place greater emphasis on capital formation, capital relationships and investment strategy – areas central to their long-term growth.

As CFO and head of capital markets, Conlon will have accountability for Opus’ financial strategy and growth of their capital markets platform as well as oversight of all enterprise financial and control functions, including finance, financial planning and analysis, accounting, audit and capital markets – integrating these disciplines more closely and strengthening how Opus evaluates opportunities, deploys capital and drives performance across the business.

“I have significant confidence in Pete’s ability to drive Opus forward in this expanded role. His capital markets expertise, shaped by more than two decades of industry experience, paired with his understanding of our strategic vision, operations and culture, make him exceptionally well-suited to lead our finance and capital expansion capabilities,” said Matt Rauenhorst, president of Opus. “Pete’s leadership will be critical as we work together to further accelerate performance and realize our future-state vision for sustained growth.”

Conlon was previously executive vice president of capital markets and played a key role in shaping Opus’ current strategic plan. He brings 23 years of industry experience spanning property acquisition, brokerage, development and investment management. Since joining Opus in 2015, Conlon has structured and closed more than $3 billion in joint-venture partnerships, supporting development across industrial, multifamily, student living and senior living sectors nationwide. He also established the framework for Opus’ joint venture platform with institutional investors. Conlon was selected for the position following a comprehensive search and evaluation process conducted in partnership with an external recruitment firm.

“I’m thrilled by the opportunity to take on this new challenge at Opus and excited by the breadth and impact of this redefined CFO and head of capital markets role,” said Conlon. “As we look to grow Opus, it’s clear how an evolved approach to capital can be truly transformative for the organization, and I look forward to leveraging my experience to help realize that potential. I’m also excited to partner with Su O’Sullivan as she leads accounting and as we combine our complementary strengths as leaders to collectively empower the entire finance team to deliver meaningful value.”

O’Sullivan’s promotion to executive vice president of accounting will more fully leverage her depth in accounting leadership while supporting the broader expansion of Opus’ financial structure.

“With the evolving scope of our CFO and head of capital markets role, we needed a trusted collaborator with both the depth and breadth of accounting acumen to support the business. Over her 27 years at Opus, Su has both led and advanced our accounting function while building a strong, high-performing team,” said Rauenhorst. “Su is grounded in clarity, logic and integrity – both in the numbers and in the leadership she brings to her team and our broader enterprise. Her unrivaled technical expertise, coupled with her ability to lead and collaborate across the organization, make her uniquely suited for this role.” 

O’Sullivan has held roles of increasing responsibility across her 27-year tenure with Opus, from project accountant to vice president of accounting. She brings deep expertise in financial analysis, enterprise payroll and project planning and accounting, along with a strong track record of team leadership and operational consistency. Prior to joining Opus, O’Sullivan served as an auditor with KPMG. 

“I have tremendous respect for Opus, our people and the value we create for our clients and partners,” O’Sullivan said. “I’m thankful for the opportunity to continue building on my strengths, broaden my impact and help move the business and our team forward in meaningful ways. Pete brings a distinct perspective and background to his new role, and while our skill sets are different, they complement each other well. I’m excited to collaborate with him as we guide the company into its next phase of growth.”

As part of this transition, Opus will establish a new senior leadership role to support continuity within the capital markets function. Conlon will continue to report to Rauenhorst, O’Sullivan will report to Conlon and both Conlon and O’Sullivan will be members of the Opus Executive Leadership Team.

About Opus®

Opus is a group of commercial real estate development, design and construction companies headquartered in Minneapolis with offices and projects across the country. Opus operates as a vertically integrated multidisciplinary team with expertise in development, capital markets, finance, project management, construction and architectural services. Opus includes Opus Holding and its operating subsidiaries: Opus Development Company, Opus Design Build and Opus AE Group. Specializing in industrial, multifamily residential, office, retail and institutional projects, Opus offers the unique combination of a design-build project delivery approach driven by a client-centered team of experts and backed by enduring commitment to the community. For more information, visit www.opus-group.com and follow Opus on LinkedIn and Instagram.

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