EDMONTON, Alberta, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust (“the REIT” - TSX: MR.UN) today announced the appointment of Naomi Stefura to the board of trustees.
Naomi is the Executive Vice President and Chief Financial Officer of Melcor Developments Ltd. (Melcor) and also Chief Financial Officer of the REIT. She has been with Melcor in financial oversight and senior leadership roles for almost 15 years. Naomi also currently serves as Vice Board Chair for Explore Edmonton and was previously Audit Committee Chair of that organization.
Ralph Young, Chairman of the REIT commented: “We are happy to have Naomi officially join the board of trustees. With instrumental involvement since IPO, she has a wealth of knowledge about the REIT and its history. In addition, Naomi has extensive experience in financial planning and analysis, risk management and capital market transactions, and has been actively involved in each of the transactions that the REIT has undertaken to date.”
Under the Declaration of Trust (DOT) Melcor has the right to nominate a certain number of trustees based on a) its ownership percentage and b) the total number of trustees. With Naomi’s appointment, the board is comprised of four independent trustees and three appointed by Melcor.
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.
Director, Corporate Communications