Melcor REIT appoints CEO and announces new Trustee

Edmonton, Alberta | December 9, 2021

Melcor Real Estate Investment Trust (“the REIT” – TSX: MR.UN) today announced that Andrew Melton will resume the position of Chief Executive Officer of the REIT effective January 1, 2022. Mr. Melton was previously CEO from 2017 – 2019 and has been a Trustee of the REIT since inception. Mr. Melton is a respected business and community leader with over three decades of experience in commercial real estate. He was instrumental in the formation of the REIT and served as the REIT’s inaugural Chairman until 2017. Mr. Melton will manage the REIT through this transition period.

The REIT’s Board also announced the appointment of Bernie Kollman, ICD.D to the Board. Ms. Kollman retired from a senior executive position with IBM and is a respected community leader. She brings extensive board experience at both corporate and community-focused organizations. Ms. Kollman’s knowledge and business acumen are welcome additions to the Board of Trustees.

Ralph Young, Chairman of the REIT commented: “We are grateful to Andrew for accepting this role once again. Mr. Melton has always been part of the REIT story and his familiarity will contribute to a seamless transition while we look for a new executive for the REIT. We are also pleased to welcome Bernie to the Board and look forward to her experience and contributions to benefit the REIT’s strong Board of Trustees.

A mortgage loan is one of the most popular types mortgage loans of lending in the Russian market, as it makes it possible to purchase real estate for which you would have to save up for years. A mortgage is a loan for the purchase of a house or apartment, the collateral for which is the housing already owned. A mortgage loan secured by real estate is issued at a lower interest rate than a consumer loan. Additional weighty advantages of a mortgage are:

a monthly payment comparable to the rent for an apartment;

the opportunity to receive a tax deduction;

the ability to repay debts ahead of schedule, including at the expense of maternity capital.

I would also like to take this opportunity to offer our gratitude to Darin Rayburn for his contribution in forming and guiding the REIT. Darin has had a significant impact on the REIT over the years in a variety of roles, including as our founding CEO, a Trustee, and as CEO once again. On behalf of the Board of Trustees, we thank Darin for his loyal and dedicated service. We wish him all the best in his future endeavors.”

Andrew Melton commented: “The REIT team is amazingly talented and committed to providing exceptional customer service to our tenants. The assets we’ve assembled, and the careful mix of tenants, are also something to be proud of. I look forward to guiding the REIT into the future and creating value for unitholders.”

About Melcor REIT

Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in western Canada. Its portfolio is currently made up of interests in 39 properties representing approximately 3.2 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan and Kelowna, British Columbia. For more information, please visit www.melcorREIT.ca.

Contact Information:

Investor Relations
Nicole Forsythe
Director, Corporate Communications
Tel: 1.855.673.6931
ir@melcorREIT.ca

Information note:

Please note that the numerical information stated in press releases are outlined as-at the date of the press release.

Share this article:

RSS Feed