Charter Real Estate Investment Trust

Charter Real Estate Investment Trust

October 13, 2009 17:30 ET

Charter Real Estate Investment Trust (TSX-V: CRH.UN) Announces Senior Executive Changes

TORONTO, ONTARIO--(Marketwire - Oct. 13, 2009) - Charter Real Estate Investment Trust ("Charter REIT") (TSX VENTURE:CRH.UN)is announcing certain senior executive changes.

Mr. John Driscoll has resigned, effective today, as Chief Executive Officer of Charter REIT. Mr. Driscoll will remain as Chairman of Charter REIT's Board of Trustees. The Board of Trustees of Charter REIT is pleased to announce that Mr. Ari Silverberg, currently Charter REIT's President and Chief Operating Officer will become Charter REIT's President and Chief Executive Officer. Mr. Silverberg has shown his capabilities managing the day-to-day and strategic affairs of Charter REIT since arriving at Charter REIT in 2006 and, specifically, in the recent economic environment.  

Charter REIT 

Charter Real Estate Investment Trust is an open‑ended 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, comprised of stable cash flow and value-add properties from both primary and secondary markets throughout Canada. Charter REIT's principal goal is to generate a reliable and growing yield for investors. Charter REIT currently owns ten 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 "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 expectations. 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.

The Exchange Tower 
130 King Street West
Suite 2810
 Toronto, Ontario M5X 1A4
Telephone:  (416) 364-5705
Fax:  (416) 861-8166

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
    Ari Silverberg
    President and Chief Executive Officer
    (416) 364-5705
    (416) 861-8166 (FAX)
    Charter Real Estate Investment Trust
    Floriana Cipollone
    Chief Financial Officer
    (416) 364-5705
    (416) 861-8166 (FAX)