CALGARY, ALBERTA--(Marketwired - April 3, 2017) - Northview Apartment Real Estate Investment Trust ("Northview" or the "REIT") (TSX:NVU.UN), today announced that Mr. Douglas H. Mitchell, C.M., A.O.E., Q.C., will be stepping down as Chair of the Board of Trustees when his term ends at the next Annual General & Special Meeting of Unitholders on May 9, 2017.
Mr. Mitchell has held the position of Chair of the Board of Trustees since Northern Property REIT's IPO in 2002. During his tenure, Northview has grown from approximately $200 million in assets, to a national diversified REIT with approximately 24,000 units and $3.1 billion in assets.
Todd Cook, President and CEO, commented "On behalf of our Unitholders, Board of Trustees and Northview team members, I would like to thank Doug for his significant contributions over the past 15 years. His support and leadership have been key in Northview's growth and success in delivering solid returns for our unitholders."
Mr. Scott Thon will stand for re-election to the Board of Trustees at the upcoming annual and special meeting of Unitholders. If elected, the Board intends to appoint Mr. Thon as Chairman of the Board of Trustees.
Mr. Thon has served as President & CEO of AltaLink since 2002, and has over 30 years experience in a variety of senior executive roles across Canada and internationally. Mr. Thon is current chair of the Canadian Electricity Association Board of Directors, and sits on the boards of Alberta Blue Cross and the Calgary (Olympic) Bid Exploration Committee. Mr. Thon is a registered Professional Engineer with a Bachelor of Science in Electrical Engineering from the University of Saskatchewan. He is also a graduate of the University of Western Ontario's Richard Ivey School of Business Executive Program and holds an ICD.D designation from the Institute of Corporate Directors.
Northview is one of Canada's largest publicly traded multi-family REITs with a portfolio of approximately 24,000 quality residential suites in more than 60 markets across eight provinces and two territories. Northview's portfolio includes markets characterized by expanding populations, growing economies, high occupancy levels, and rising rents, which provides Northview the means to deliver stable and growing profitability and cash distributions to Unitholders of Northview over time. The REIT currently trades on the TSX under the ticker symbol: NVU.UN. Additional information concerning Northview is available at www.sedar.com or www.northviewreit.com.