Charter Real Estate Investment Trust

Charter Real Estate Investment Trust

August 18, 2010 16:45 ET

Charter REIT Announces Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2010) - Charter Real Estate Investment Trust ("Charter REIT") (TSX VENTURE:CRH.UN) announced today that Dionne Barnes has been appointed as Chief Financial Officer of the Trust effective immediately.

Patrick Miniutti, Charter REIT's CEO stated, "We thank Floriana Cipollone, our former CFO, for her excellent service to the REIT and its unit holders, particularly during the transition period between the former management of Charter REIT and the management that is now being provided by LAPP Global Asset Management Corp. and we welcome Dionne Barnes as the new Chief Financial Officer of Charter REIT."

As well as serving as Chief Financial Officer of Charter REIT, Dionne Barnes is also the Vice President of Finance for the real estate operations of League Assets Corp. Prior to joining League, Ms. Barnes worked in a variety of industries including oil and gas with ExxonMobil and Suncor Energy Corporation; electrical energy supply and renewable energy development with ENMAX Corporation; and real estate development and construction with Carma Developers LP, a subsidiary of Brookfield Properties. Ms. Barnes was also a senior manager at Deloitte & Touche in its Calgary office. Ms. Barnes' 17 year career includes extensive management experience in financial reporting, tax planning and compliance, treasury management, business development, mergers and acquisitions, internal control compliance, and regulatory affairs. Since joining League Assets Corp, Ms. Barnes has had extensive exposure to the management and operations of a private real estate investment trust – the IGW REIT with assets totalling $230 million as well as a number of real estate limited partnerships and is currently responsible for the financial and internal reporting, internal controls and tax issues related to the REIT.

Ms. Barnes is a Chartered Accountant and holds a Bachelor of Commerce Honours degree in finance and a Bachelor of Arts degree in economics from the University of Manitoba. She also currently serves on the board of directors of CHEK-TV, in Victoria, British Columbia.

About Charter REIT

Charter Real Estate Investment Trust is an open-end real estate investment trust established under the laws of the Province of Ontario. Charter REIT is focused on acquiring and managing a portfolio of retail and mixed-use retail community and neighbourhood centres, generally in the mid-market deal size range of $10 to $40 million, from both primary and secondary markets throughout Canada. Charter REIT currently owns 10 retail properties located in Ontario and Quebec.

Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "will" and similar expressions to the extent they relate to Charter REIT. The forward-looking statements are not historical facts but reflect Charter REIT's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectation. Although Charter REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.

Charter Real Estate Investment Trust
The Exchange Tower
130 King Street West
Suite 2810, P.O. Box 104
Toronto, Ontario
M5X 1A4

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Charter Real Estate Investment Trust
    Patrick Miniutti
    Chief Executive Officer
    (416) 364-5705
    (416) 861-8166 (FAX)