Partners Real Estate Investment Trust

Partners Real Estate Investment Trust

November 24, 2013 21:16 ET

Partners Real Estate Investment Trust Announces the Departures of the CIO and CFO

VICTORIA, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2013) - Partners Real Estate Investment Trust (TSX:PAR.UN) (the "REIT" or "Partners REIT") announced today the departures of Mr. Edward W. Boomer, President and Chief Investment Officer and Ms. Heather Routly, Chief Financial Officer for Partners REIT.

"We would like to thank Ed and Heather and wish them the best," stated Patrick Miniutti, Partners REIT's Chief Executive Officer "These departures are a result of the changing needs and available resources for the REIT. Recently the League Group, the external manager of the Partners REIT, downsized its' own real estate activities making available professionals with a depth of experience in real estate and the management of public companies. The Manager will be consulting with the Trustees to finalize the team going forward with an announcement forthcoming shortly."

Strong Management Team

The REIT's management team has significant public company and real estate expertise in the areas of financing, asset management, property management, property accounting, lease administration, acquisitions and depositions led by CEO Patrick Miniutti and COO Peter Morris who between them have over 60 years of real estate experience. "We are well positioned to continue to lead and grow the REIT and look forward to achieving solid results for the unitholders." added Miniutti.

Partners REIT

Partners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) thirty-nine retail properties, well-located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.7 million square feet of leasable space. Partners REIT focuses on expanding and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada.

Contact Information

  • Partners Real Estate Investment Trust
    Patrick Miniutti
    Chief Executive Officer
    (250) 940-5500