SOURCE: Calloway Real Estate Investment Trust

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October 21, 2014 16:45 ET

Calloway REIT Announces Chief Financial Officer Appointment

New CFO to Strengthen Management Team and Assist in the Ongoing Creation of Unit Holder Value

TORONTO, ON--(Marketwired - October 21, 2014) - Calloway Real Estate Investment Trust ("Calloway") (TSX: CWT.UN) announced today that Peter Sweeney has been appointed by the Board of Trustees as Calloway's new Chief Financial Officer ("CFO").

Mr. Sweeney is a recognized financial leader, having previously served in a number of senior financial roles and most recently as CFO of Allied Properties Real Estate Investment Trust. He will be a highly competent financial steward for Calloway, with extensive experience in real estate and the capital markets, and with the investment community in Canada and the U.S.

"I am delighted to have a person of Peter's caliber joining the management team at Calloway," said Huw Thomas, President and CEO of Calloway REIT. "Peter has had an extensive career in the real estate industry and has become a very well respected financial professional. I believe his professionalism, knowledge and passion for excellence will significantly increase the capabilities of our organization, and I look forward to working with him and the rest of our management team to continue to develop a compelling long term growth agenda for Calloway. I also want to acknowledge the work of Mario Calabrese over the last 18 months as our interim CFO, which I have greatly appreciated. Mario will be staying with the organization and will assist with Peter's transition," added Thomas.

About Calloway

Calloway is one of Canada's largest real estate investment trusts with an enterprise value of approximately $7 billion. It owns and manages approximately 27 million square feet in 125 value-oriented principally Walmart anchored retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. In addition, Calloway is a joint-venture partner in the Toronto Premium Outlets and the soon to be opened Montreal Premium Outlets. Calloway's vision is to provide a value-oriented shopping experience to Canadian consumers. For more information on Calloway, visit www.callowayreit.com.

Contact Information

  • For more information, please contact:

    Huw Thomas
    President and Chief Executive Officer
    Calloway Real Estate Investment Trust
    (905) 326-6400 ext. 7649