InStorage Real Estate Investment Trust
TSX VENTURE : IS.UN

InStorage Real Estate Investment Trust

July 03, 2007 08:33 ET

InStorage REIT Announces Senior Management Changes

TORONOTO, ONTARIO—-(Marketwire – July 3, 2007) -

Attention Business Editors:

InStorage Real Estate Investment Trust (the "REIT") (TSX VENTURE:IS.UN) announced today the appointment of Mr. Alay Shah as Chief Financial Officer and Mr. Marcus Lowe as Vice President, Operations.

Mr. Shah was formerly Vice President Finance for the REIT. He has more than twenty years of experience in corporate financial management with large public companies, including Vice President and Corporate Controller with Vincor International Inc., and Controller with MI Developments Inc., a large publicly-traded real estate company. Mr. Shah is a member of the Emerging Issues Committee of the Accounting Standards Board.

Prior to joining the REIT, Mr. Lowe was Vice President - Operations of Canadian Mini-Warehouse Properties and Public Storage Canadian Properties, subsidiaries of Public Storage Inc. (NYSE:PSA), the world's largest owner and operator of self-storage facilities. Mr. Lowe has a Bachelor of Business Administration from Simon Fraser University.

"We are very pleased to be promoting Alay to his new position and to have Marcus joining our senior management team," said T. James Tadeson, Chief Executive Officer. "These appointments have significantly strengthened our operational management and financial reporting capabilities as we continue to grow and consolidate the Canadian self-storage industry."

Mr. Shah replaces John Bartkiw who has left the REIT to pursue other interests.

"We thank John for his contributions to the formation of InStorage REIT, and wish him every success in his future endeavours," Mr. Tadeson concluded.

InStorage Real Estate Investment Trust

The REIT is an unincorporated open-ended real estate investment trust that invests primarily in self-storage properties and ancillary businesses throughout Canada. The REIT is the largest owner/operator of self storage facilities in Canada and is the country's leading self-storage industry consolidator, with a current portfolio of 50 self-storage properties located in Alberta, Saskatchewan, Ontario and Quebec.

Additional information concerning the REIT may be obtained on the REIT's website, www.instoragereit.ca, and on the SEDAR website at www.sedar.com, under the REIT's profile.

Contact Information

  • InStorage Real Estate Investment Trust
    T. James Tadeson
    Chief Executive Officer
    (416) 867-9705
    Website: www.instoragereit.ca