Adventus Realty Trust (the Trust) is pleased to announce the addition of two key members to the Board of Directors at the Annual General Meeting on June 28, 2013. Shareholders re-elected Rodney Johnston, Brad Newell, Bill LeClair and Greg Cameron, and also elected new directors Brian Kenning and Ron Anderson. The two new directors complement our re-elected members of the board and bring a great deal of experience in real estate, REITs and as directors of public companies. Their wealth of experience nicely rounds out our board, and will be important in meeting our future growth goals.
Brad Newell, Chairman of Adventus, states, “We are very happy to welcome Brian Kenning and Ron Anderson to our board of directors. These gentlemen add to our board’s extensive management and commercial real estate experience. They also bring the professional experience of having worked in upper management of REITs and on various public company boards. In addition to our three chartered accountants re-elected to our board, two of whom have reached the positions of being awarded the distinction of Fellowship in the Institute of Chartered Accountants of British Columbia, we have added a director with an MBA and another with a CGA designation. For a high growth real estate trust that is still early in its growth, we are fortunate to have such a strong board of directors, and we are well positioned to continue our rapid growth into the future.”
Brian Kenning is a corporate director currently serving on the boards of MacDonald, Dettwiler and Associates Ltd., British Columbia Ferry Services, UBC Investment Management, and Royal Oak Ventures Incorporated. From 1995 to 2005, Mr. Kenning was a Managing Partner of Brookfield Asset Management, one of Canada’s largest real estate companies, which is also involved in asset management and the power generation sector. From 1988 to 1995, Mr. Kenning was Chairman and Managing Partner of B.C. Pacific Capital Corporation, a Brookfield affiliate, active in merchant banking and investing. Over the past ten years, Mr. Kenning has served as a director of a number of private and public corporations including British Columbia Railway Company and Catalyst Paper Corporation. In addition, Mr. Kenning is a past governor of the B.C. Business Council, a past director of the B.C. Chapter of the Institute of Corporate Directors, has served as Board Chairman of St. George’s School (1998-2000), Board Chairman of Brentwood College School (1990-1995) and Chairman of the BC Cancer Foundation (2005-2007). Mr. Kenning graduated from Queen’s University with an MBA in 1973. His experience will be instrumental in our corporate governance at Adventus, and he will also play a crucial role in our goals to profitably grow Adventus.
Ron Anderson founded Tallinn Capital in 1999 where he is currently the President of the company. Mr. Anderson has over 30 years experience in finance, banking and mergers and acquisitions in Western Canada, including a senior position in BC with a major Canadian bank. Mr. Anderson is a Board member of Mainstreet Equities Corp. (MEQ - TSX), a Canadian-based real estate company focused on acquisition, redevelopment, repositioning and management of mid-market rental apartment buildings in five major Canadian markets including Vancouver/Lower Mainland, Calgary, Edmonton, Saskatoon and the Greater Toronto Area. Mr. Anderson is a Governor and past Treasurer of Crofton House School, a Board member of The Nature Trust of British Columbia, and has been a director of a number of public and private companies. Mr. Anderson has a B.Comm from the University of British Columbia and is a CGA. His experience with REITs and the capital markets will be instrumental in guiding Adventus forward.
Adventus is a Canadian based Real Estate Investment Trust, which is focused on commercial real estate in the U.S. Midwest, and initiated in suburban Chicago. Our first property acquisition, the Elgin Chase Campus, has recently passed the first year of our self managing the property. It produced net operating income (annualized) of approximately $3.0M, which met our 2012 budget, and was significantly in excess of the net operating income achieved in prior years. In March 2013, we closed on the Oak Brook Office Center (our second property) and we have recently secured our third office property in suburban Chicago (via a deposit against a purchase contract). As a result, we are quickly establishing our reputation as a serious player in the office buildings market in suburban Chicago and are being increasingly exposed to further office property deal flow.
In closing, we believe our people are key to our strategic growth and Adventus has built an outstanding team to guide the Trust towards its goals for growth.
ADVENTUS REALTY TRUST
By its Trustee: ADVENTUS REALTY SERVICES INC.
Per: Rodney B. Johnston, FCA
President and Chief Executive Officer