SOURCE: Canadian Real Estate Investment Trust

Canadian Real Estate Investment Trust

November 06, 2014 08:46 ET

Canadian Real Estate Investment Trust Announces Appointment of Rael Diamond as President and Chief Operating Officer

TORONTO, ON--(Marketwired - November 06, 2014) - Canadian Real Estate Investment Trust ("CREIT") (TSX: REF.UN) announced today that its Board of Trustees has ratified the appointment of Rael Diamond as President and Chief Operating Officer, effective January 1, 2015. Stephen Johnson will continue in his role as Chief Executive Officer ("CEO").

Mr. Diamond joined CREIT in 2012 and has served as CREIT's Chief Financial Officer since April 2013. Prior to joining CREIT, Mr. Diamond served as Chief Financial Officer of several subsidiary public companies of Brookfield Asset Management, including Rouse Properties and Brookfield Office Properties Canada.

CREIT has a search underway to fill the role of Chief Financial Officer, which will become available as a result of Mr. Diamond's promotion.

Stephen Johnson, President and Chief Executive Officer of CREIT said: "Rael has made significant contributions to CREIT since joining the company. He is a strategic thinker with exceptional and proven business acumen. Rael is a strong, natural leader and he brings solid real estate knowledge and experience, as well as capital markets expertise, to his new role."

CREIT owns a portfolio of high-quality real estate assets and, as a publicly-traded Canadian REIT, has produced solid returns for investors over a long-term horizon. Stephen Johnson added, "CREIT is exceptionally well positioned for the future, given the quality of our real estate portfolio and our strong balance sheet. I am confident that Rael will be a significant contributor to CREIT's future success, given his experience and leadership capability."

About CREIT

CREIT is a real estate investment trust focused on accumulating and aggressively managing a portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to Unitholders. The primary benefit is a reliable and, over time, increasing monthly cash distribution. CREIT owns a diversified portfolio of retail, office and industrial properties.
 

Contact Information

  • For further information, please contact:

    Stephen Johnson
    President & Chief Executive Officer
    416-628-7878
    sjohnson@creit.ca