MONTRÉAL, Oct. 4, 2022
/CNW Telbec/ - PRO Real Estate Investment Trust ("PROREIT")
(TSX: PRV.UN) is pleased to announce that Gordon G. Lawlor will succeed James W. Beckerleg as President and Chief
Executive Officer of PROREIT and will join PROREIT's Board of
Trustees, effective April 1, 2023, at
which time Mr. Beckerleg will be named Vice Chair of the Board
and Co-Founder, as part of PROREIT's CEO succession plan. Mr.
Beckerleg has been President and Chief Executive Officer and a
Trustee of PROREIT since 2013. PROREIT is also pleased to announce
that Alison Schafer will be
appointed Chief Financial Officer and Secretary of PROREIT
concurrently with these changes.
"Co-founding and building PROREIT from the ground up with Gordon
has been one of the proudest and most fulfilling achievements of my
professional career. Starting with one property in 2013, we have
grown into an industrial-focused REIT with over $1 billion in assets and a presence in all
Canadian provinces. Gordon has been a key architect of PROREIT's
success and in the development of our strong management team.
Involved in all aspects of the business from a strategic and
operational standpoint, Gordon is uniquely qualified and the
natural choice to lead PROREIT in the next phase of its growth
following my retirement," stated James W.
Beckerleg, President and Chief Executive Officer of
PROREIT.
"I want to thank James and the Board of Trustees for their
continued confidence in me," said Gordon G.
Lawlor, Executive Vice President, Chief Financial Officer
and Secretary of PROREIT. "I am proud to take the helm of PROREIT
and to deliver on our ambitious objectives in the coming years. I
look forward to continuing to work with our strong, experienced
management team and our people across Canada on the exciting opportunities that lay
ahead for PROREIT."
"James has had an illustrious career in the real estate industry
and the Board is grateful for his many contributions to the
business since its founding. Continuing in his commitment to
PROREIT, we are also pleased that James will remain as Vice Chair
of the Board and Co-Founder, so we may still benefit from his
vision, knowledge and industry experience," stated John Levitt, Chair of PROREIT's Board of
Trustees.
Gordon G. Lawlor co-founded
PROREIT in 2013 and serves as Executive Vice President, Chief
Financial Officer and Secretary of PROREIT. Prior to that, Mr.
Lawlor was Executive Vice President, Chief Financial Officer and
Secretary of CANMARC Real Estate Investment Trust, a publicly
traded REIT, until its acquisition in 2012 for $1.9 billion. Previously, Mr. Lawlor held senior
management positions for a large, private international real estate
investment and management company, as well as in a publicly traded
utility company. Mr. Lawlor has a Bachelor of Science in
Mathematics from Saint Mary's University (Halifax, Nova Scotia) and received his
Chartered Professional Accountant designation in 1994.
Alison Schafer was named Senior
Vice President, Finance of PROREIT in April
2022. She has been part of the PROREIT team since its
inception in 2013 and has held finance roles of increasing
responsibility throughout her tenure. Prior to joining PROREIT, Ms.
Schafer was accounting director at a large publicly traded REIT,
overseeing the accounting function for the REIT's entire portfolio.
Previously, she spent over a decade with a prominent Montreal-based accounting firm. She has a
Bachelor of Commerce and a Bachelor of Education from McGill University (Montreal, Quebec) and has held the Chartered
Professional Accountant designation since 2003.
Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable securities
legislation, including statements relating to certain expectations,
growth plans and other information related to PROREIT's business
strategy and future plans. Forward-looking statements are based on
a number of assumptions and are subject to a number of risks and
uncertainties, many of which are beyond PROREIT's control, that
could cause actual results and events to differ materially from
those that are disclosed in or implied by such forward-looking
statements.
The forward-looking statements contained in this news release
are expressly qualified in their entirety by this cautionary
statement. All forward-looking statements in this press release are
made as of the date of this press release. PROREIT does not
undertake to update any such forward-looking information whether as
a result of new information, future events or otherwise, except as
required by law.
Additional information about these assumptions and risks and
uncertainties is contained under "Risk Factors" in PROREIT's latest
annual information form and "Risk and Uncertainties" in PROREIT's
management's discussion and analysis for the three months ended
June 30, 2022, which are available
under PROREIT's profile on SEDAR at www.sedar.com.
About PROREIT
PROREIT (TSX: PRV.UN) is an unincorporated open-ended real
estate investment trust established pursuant to a declaration of
trust under the laws of the Province of Ontario. Founded in 2013, PROREIT owns a
portfolio of high-quality commercial real estate properties in
Canada, with a strong industrial
focus in robust secondary markets.
SOURCE PROREIT