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VANCOUVER, Sept. 9, 2013 /CNW/ - Pure Industrial Real Estate Trust ("PIRET" or the "Trust") (TSX: AAR.UN) today announced the sudden passing of co-founder and Co-Chief Executive Officer, Darren Latoski.
Mr. Latoski fought a valiant battle with cancer and was active in his role with the Trust until his death. He was one of Canada's most successful young entrepreneurs and will be deeply missed by family, friends and colleagues alike. Rick Turner, Chairman of the Trust, said: "We are deeply saddened to have to say goodbye to Darren. His talent and boundless energy helped lead the Trust to its current success. He was proud of the Trust's growth, the considerable depth of management now in place at all levels and the unblemished record of payments to securityholders since its 2007 initial public offering."
As the Trust's remaining Co-Chief Executive Officer, Steve Evans will become solely responsible for the principal executive functions of the CEO position and, together with PIRET's senior executive team of Kevan Gorrie, President, and Francis Tam, Chief Financial Officer, will continue to be responsible for the day-to-day business decisions of the Trust.
About Pure Industrial Real Estate Trust
PIRET is an unincorporated, open-ended investment trust that acquires, owns and operates a diversified portfolio of income-producing industrial properties in primary markets across Canada. PIRET focuses exclusively on investing in industrial properties and is the largest internally managed publicly traded REIT in Canada that offers investors exclusive exposure to Canada's industrial asset class.
TSX - AAR.UN
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SOURCE: Pure Industrial Real Estate Trust (PIRET)
For further information:
Director of Investor Relations
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 398-2836 or (888) 681-5959