Primaris Retail REIT Announces New President and CEO
July 29 2009 - 3:00PM
Marketwired
Primaris Retail REIT (TSX: PMZ.UN) is pleased to announce the
appointment, effective August 1, 2009, of Mr. John R. Morrison as
its new President and Chief Executive Officer. Mr. Morrison has
been actively involved in Primaris since its launch in 2003,
representing continuity of strategy and management for the REIT,
its portfolio and its team.
Mr. Morrison has almost 30 years experience in the commercial
real estate industry, primarily in the shopping centre asset class.
He was previously President, Real Estate Management at Oxford
Properties Group, where he was responsible for the performance of
Oxford's $10 billion domestic portfolio of office, industrial,
multi-family residential and shopping centre properties, as well as
the newly completed Watermark Place in the U.K. In addition to the
Oxford portfolio of 34.2 million square feet, Mr. Morrison was also
responsible for the operating results of the 9.3 million square
foot Primaris portfolio of assets and has been involved in the
direction and growth of the REIT since inception.
Prior to joining Oxford, Mr. Morrison held a number of
progressively senior positions with OMERS Realty Corporation where
he was involved in building the OMERS real estate investment
portfolio as it exists today. Mr. Morrison also held senior roles
at Campeau Corporation where he was responsible for the management
and operation of the shopping centre portfolio. Mr. Morrison is a
voting Trustee of the International Council of Shopping Centers and
Vice Chairman of the Urban Land Institute Toronto District
Council.
Mr. Roland Cardy, Chair of the Primaris board of trustees,
commented "We are thrilled to have secured a candidate of John's
stature and experience. Moreover, John represents tremendous
continuity of management for the people and assets of Primaris as
he has been actively involved in our business through our external
asset manager since Primaris' inception six years ago." Mr. Cardy
went on to add "the board would like to thank Mr. Michael Latimer,
President and CEO of Oxford Properties Group, for so ably leading
Primaris up until now". While Mr. Latimer has resigned his position
with the REIT, Oxford remains the external asset and property
manager, as previously announced, until December 31, 2009.
The REIT is a TSX listed real estate investment trust (TSX:
PMZ.UN). The REIT owns 26 income-producing properties comprising
approximately 9.3 million square feet located in Canada. As of June
30, 2009, the REIT had 62,394,509 units issued and outstanding.
Contacts: Primaris Retail REIT John R. Morrison President and
Chief Executive Officer (416) 865-8280 (current) (416) 642-7860
(August 1) Primaris Retail REIT Louis M. Forbes Senior Vice
President Chief Financial Officer (416) 865-5360 (current) (416)
642-7810 (August 1)
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