TORONTO, March 27, 2019 /CNW/ - Canadian Apartment
Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT")
announced today that Mark Kenney has
been appointed Chief Executive Officer of CAPREIT and as a member
of CAPREIT's board of trustees, effective March 27, 2019.
Mr. Kenney joined CAPREIT in 1998 and, since that time, has been
actively involved in creating and implementing CAPREIT's policy,
building and directing the property management team, and overseeing
the marketing, procurement and development departments. As COO, Mr.
Kenney oversaw all of CAPREIT's operations and acquisitions in
Canada and Europe.
"We are fortunate to have within our organization a high level
of talent to support our succession planning," said Michael Stein, Chair of the Board. "Mark
has led CAPREIT's operations team since day one and has a deep
understanding of our industry and our organization. We look forward
to our continued growth under his capable leadership."
"I am eager to take on this new role as CEO and Trustee, and
thank the Board as well as the senior management team for their
trust and confidence in my leadership," added Mr. Kenney.
"Continuing our vision and building on CAPREIT's industry-leading
portfolio and strong financials will be my and our talented
management team's primary focus as we enter into the next chapter
of growth for CAPREIT."
About Mark Kenney
Mark Kenney joined CAPREIT in
1998 and currently serves as CAPREIT's President and Chief
Operating Officer. Mr. Kenney has more than 28 years of experience
in the multi-family real estate sector. Prior to joining CAPREIT,
Mr. Kenney held a senior position at Realstar Management
Partnership, overseeing portfolios in Western Canada and Northern Ontario. He has also held various
leadership roles at Greenwin Property Management and Tridel, where
he managed portfolios in the Greater
Toronto Area. Mr. Kenney is a board member of the Federation
of Rental-Housing Providers of Ontario and St. Hilda's Towers; and is a
founding board member of the GTAA. He holds a Bachelor of Economics
degree from Carleton University.
About CAPREIT
CAPREIT owns interests in multi-unit residential rental
properties, including apartments, townhomes and manufactured home
communities primarily located in and near major urban centres
across Canada. CAPREIT has owning
interests in 53,143 residential units, comprised of 45,446
residential suites and 45 manufactured home communities comprising
7,697 land lease sites. Since its Initial Public Offering in
May 1997, CAPREIT has grown monthly
cash distributions per unit by 93%. For more information about
CAPREIT, its business and its investment highlights, please refer
to our website at www.caprent.com or www.capreit.net and our
public disclosure which can be found under our profile at
www.sedar.com.
SOURCE Canadian Apartment Properties Real Estate Investment
Trust (CAPREIT)