Northern Property Real Estate Investment Trust

Northern Property Real Estate Investment Trust

January 13, 2011 15:05 ET

NorSerCo Inc.: Kevin Grayston Appointed Independent Director

CALGARY, ALBERTA--(Marketwire - Jan. 13, 2011) - The Board of Directors of NorSerCo has announced the appointment of Mr. Kevin Grayston, C.A. as a Director of the company. Mr. Grayston will serve as an independent director of NorSerCo.

"We are very pleased that Mr. Grayston has accepted our invitation to join the NorSerCo Board," said NorSerCo Chair Douglas H. Mitchell, C.M., A.O.E.,Q.C. "Kevin's extensive real estate business background and public company experience will serve our shareholders well."

Mr. Grayston is the former Executive Vice President and Chief Financial Officer of Canadian Hotel Income Properties REIT and served as Executive Vice President Real Estate of bcIMC Hospitality Group Inc. following its acquisition of CHIP in 2007. Prior to that, he served as Senior Vice President, Corporate Services for Canadian Airlines International. He is a Chartered Accountant and possesses a Bachelor of Commerce from the University of British Columbia.

About NorSerCo

NorSerCo Inc. was created during the Plan of Arrangement conducted by Northern Property Real Estate Investment Trust in December 2010. Pursuant to the Plan the REIT's "non-qualifying" assets and income, principally the operations associated with its four Executive Suite properties, were transferred to NorSerCo Inc., a taxable Alberta corporation. 

Northern Property REIT and NorSerCo Inc. trade on the Toronto Stock Exchange as a stapled unit (TSX:NPR.UN). The Alberta and Ontario Securities Commissions have approved combined financial reporting and disclosure for the stapled entities. The existing eight Trustees of Northern Property REIT also serve as Directors of NorSerCo Inc. NorSerCo and Northern Property share senior management personnel.

Contact Information

  • NorSerCo Inc.
    B. James Britton