Pure Industrial Real Estate Trust Announces Employment Agreement with New President
VANCOUVER, Sept. 20, 2012 /PRNewswire/ - Pure Industrial Real Estate Trust ("PIRET" or the "REIT") (TSX: AAR.UN) is pleased to announce that its trustees have appointed and PIRET has entered into an employment agreement, effective October 14, 2012 (the "Effective Date"), with Kevan Gorrie to be President of the REIT.
Mr. Gorrie was most recently Vice President, Industrial, of Oxford Properties, where he led Oxford's $900 million industrial business, comprising 13 million square feet of income-producing properties and development projects across key Canadian industrial markets. His role encompassed acquisition, asset management, leasing, operations and development. Prior to joining Oxford, Mr. Gorrie was Vice President of a leading domestic real estate firm, where he was involved in acquisitions totaling nearly $500 million. Mr. Gorrie has been involved with real estate in Canada for the past fifteen years and is a graduate of the Civil Engineering program at the University of Toronto.
Steve Evans, Co-CEO and a Trustee of PIRET, commented on the appointment: "We are really pleased to have Kevan joining us as our President. He brings significant experience and expertise in the industrial markets and we look forward to him leading our existing asset management, property management and acquisitions teams in the years to come."
About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established for the purposes of acquiring, owning and operating a diversified portfolio of income-producing industrial properties in primary markets across Canada. PIRET focuses exclusively on investing in industrial properties and is the only publicly traded REIT in Canada that offers investors exclusive exposure to Canada's industrial asset class.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE Pure Industrial Real Estate Trust (PIRET)