TORONTO, Sept. 21, 2012 /CNW/ - GT Canada Medical Properties Real Estate Investment Trust ("GT" or the "REIT") (TSXV: MOB.UN) announced that Kursat Kacira will be leaving his role as Chief Financial Officer to pursue a new opportunity as the Chief Executive Officer of a new private commercial real estate company (unrelated to healthcare real estate), which is in its pre-IPO formation phase. Concurrently, the REIT announced that Brian Wilson, GT's Senior Vice President of Finance & Administration, has been appointed as interim Chief Financial Officer. Brian previously served as GT's CFO from June 30, 2011 to May 31, 2012.
"Kursat has played a key role at GT helping with the reconfiguration of the REIT into an internationally diversified healthcare real estate investment trust, the completion of which we look forward to announcing shortly. We thank Kursat for his significant contributions and wish him success in his new opportunity," said Paul Dalla Lana, GT's Chief Executive Officer. "We are fortunate to have Brian Wilson as our interim CFO and a strong and experienced finance and administration team in place to help facilitate an efficient transition."
GT Canada Medical Properties REIT
GT Canada Medical Properties REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT's objectives are to: (i) provide its unitholders with stable and growing cash distributions from investments focused on healthcare real estate, on a tax efficient basis; (ii) enhance the value of the REIT's assets and maximize long-term unit value; and (iii) expand the asset base of the REIT.
Some financial measures used in this press release, such as FFO, AFFO, and NOI, are used by the real estate industry to measure and compare the operating performance of real estate companies, but they do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). As such, they are unlikely to be comparable to similar measures presented by other real estate companies. These non-IFRS measures are more fully defined and discussed in management's discussion and analysis ("MD&A") for the second quarter of 2012, which is available on the SEDAR website at www.sedar.com.
This press release may contain forward-looking statements. Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements may include, among other things, statements related to acquisitions; development and capital expenditure activities; future maintenance and leasing expenditures; financing; the availability of financing sources; and income taxes. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the REIT's MD&A, which is available on www.sedar.com. These cautionary statements qualify all forward-looking statements attributable to the REIT and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and, except as expressly required by applicable law, the REIT assumes no obligation to update such statements.
SOURCE: GT Canada Medical Properties Real Estate Investment Trust
For further information:
Paul Dalla Lana, CEO (416) 366-8300 x1001