Charter Real Estate Investment Trust

Charter Real Estate Investment Trust

September 20, 2010 20:59 ET

Charter REIT Appoints Paul Dykeman as Member of Board of Trustees

VICTORIA, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2010) - Charter Real Estate Investment Trust (TSX VENTURE:CRH.UN) announced today the appointment of Mr. Paul Dykeman, CA as a Trustee of the REIT.

Mr. Dykeman began his real estate career in 1990 as Controller of Roycom, a pension and mutual fund real estate advisor. Prior to this he spent six years in a variety of increasingly senior roles with an international audit and accounting firm. In 1996, he, along with Mr. Maroun, launched Summit REIT and was appointed the REIT's Chief Financial Officer in 1998. With Summit's acquisition by ING Real Estate in 2006, Mr. Dykeman was appointed Chief Executive Officer of ING Real Estate Canada, responsible for all aspects of the Company's operations, including real estate transactions, investment and property management, finance and the Company's strategic direction. Currently he is Chief Executive Officer of Sigma Real Estate Advisors LLP, an investment advisory firm specializing in the Canadian, United States and Bermuda real estate markets. Mr. Dykeman is a member of the Real Property Association of Canada (RealPAC) and the Institute of Chartered Accountants of Nova Scotia.

"Paul is a welcome addition to our Board of Trustees," commented Adam Gant, Chief Executive Officer of Charter REIT. "His significant management, finance and public REIT experience will be a key asset as we execute our value enhancing growth strategies in the years ahead." 

Charter REIT is a growth oriented real estate investment trust focused on acquiring and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada. Charter currently owns 10 retail properties well located in Ontario and Quebec aggregating approximately 1.1 million square feet of leasable space.

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 expectations, including the closing of the rights offering and the standby commitment contemplated by the short form prospectus. 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.

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
    President and Chief Operating Officer
    (250) 595-9328