TORONTO, Jan. 28, 2025 /CNW/ – Ravelin Properties REIT (TSX: RPR.UN) (“Ravelin” or the “REIT”), an internally managed global owner and operator of well-located commercial real estate assets, is pleased to announce the expansion of its leadership team to include the following key additions:
- Robert Hibberd has been appointed as Chief Financial Officer
- Rachna Morgado will be appointed as Chief Operating Officer
- Sarah Jane O’Shea has been appointed as Managing Director
- Jeremy Kaupp has been appointed as Managing Director
- Emmanuel Muyal has been appointed as Senior Vice President, Finance
- Gopikannan Pillai has been appointed as Senior Vice President, Legal
- Dan Sheremeto has been appointed as Senior Vice President, Real Estate & Corporate Finance
The new members of management will work alongside Shant Poladian, who was appointed as Chief Executive Officer of the REIT effective January 1, 2025. As previously announced, Ravelin accelerated the termination of its previous external management agreement and internalized the REIT’s management (the “Internalization”) effective December 31, 2024.
“Our team is now in place and operating across our global platform, including fully functioning accounting, finance, corporate and real estate operations. We are well-positioned to move forward with the REIT’s strategic goals as we navigate the challenges and opportunities ahead of us,” commented Shant Poladian, Chief Executive Officer and Trustee.
“Ravelin is entering a new and exciting chapter for the REIT, which kicks off with a fully internalized leadership team. The team is energized, experienced and fully aligned. This is a key step which I have been personally looking forward to seeing for some time now. On behalf of the Board of Trustees, I would like to welcome all the new members of the REIT’s team who are joining Shant at this important point in Ravelin’s journey,” commented George Armoyan, Chair of the Board of Trustees.
Name Change & Ticker Symbol Changes
As part of the Internalization, the REIT changed its name to “Ravelin Properties REIT”. As previously announced, the name change of the REIT became effective December 31, 2024. In connection with the name change, the REIT changed its ticker symbols on the Toronto Stock Exchange for its units from SOT.UN to RPR.UN and for its 9.00% debentures, 5.50% debentures and 7.50% debentures from SOT.DB, SOT.DB.A and SOT.DB.B to RPR.DB, RPR.DB.A and RPR.DB.B, respectively.
The new CUSIP number for the REIT’s units is 75419Y102 and the new CUSIP numbers for its 9.00% debentures, 5.50% debentures and 7.50% debentures are 75419YAA0, 75419YAB8 and 75419YAC6, respectively. The transfer agent of the REIT continues to be TSX Trust Company. There is no change in the capitalization of the REIT in connection with the change of name and trading symbol. No action is required by existing unitholders with respect to the name change and trading symbol change. Unitholders holding unit certificates of the REIT can request a replacement certificate, however new certificates are not required and will not be automatically issued.
About Ravelin Properties REIT (TSX: RPR.UN)
The REIT owns and operates a portfolio of well-located commercial real estate assets in North America and Europe. The majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. Visit https://ravelinreit.com to learn more.
Forward-Looking Statements
Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such statements in this news release may include, without limitation, statements pertaining to the appointment of Rachna Morgado as Chief Operating Officer and the REIT’s expectations regarding its strategic goals. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements, including those risks and uncertainties relating to: the REIT’s need for additional funding in the near term and amendments to its existing indebtedness in order to continue as a going concern as further described under the heading “Risks and Uncertainties” in the REIT’s management’s discussion and analysis for the period ending September 30, 2024, available on SEDAR+ at www.sedarplus.ca under the REIT’s issuer profile; and other risks and uncertainties contained in the filings of the REIT with securities regulators on SEDAR+.
For Further Information
Investor Relations
ir@ravelinreit.com