What is a Ravelin?
Wikipedia definition:
“A ravelin is a triangular fortification or detached outwork, located in front of the innerworks of a fortress (the curtain walls and bastions). Originally called a demi-lune, after the lunette, the ravelin is placed outside a castle and opposite a fortification curtain wall.”
Halifax Citadel
The Halifax Citadel represents an excellent example of a Ravelin:
“The iconic Halifax Citadel is the jewel in the crown of the Halifax defence complex. The Victorian-era fort stands on a glacial drumlin above the city’s downtown and commands the eastern part of the peninsula and central harbour. The site was the first to be fortified in 1749, the year Governor Cornwallis founded Halifax as a British settlement. The current Citadel is the fourth fortification to have stood on the hill – it evolved over a century from a simple wooden structure to the massive stone fort that we see today.”
Why Did We Choose "Ravelin" as the REIT's New Name?
The simplest reason is that it was a legal name which was readily obtainable and the TSX exchange had an available stock trading symbol (RPR.UN) which coincided well with our new name.
It is no secret that Halifax is a special place to the founder of the REIT’s largest investor group. A fortification to be created around the REIT’s core assets – which would most definitely include Maritime Centre (our own landmark complex in Halifax) – seems to have been on the minds of those who were involved in coming up with the new name.
The Halifax Citadel was rebuilt several times. Similarly, Ravelin REIT is being rebuilt after several prior iterations (HREIT –> FAM –> SOT –> Ravelin).