Adventus Realty Trust (the Trust) is pleased to announce the addition of two key members to the board of directors. In Bill LeClair and Greg Cameron the company has added two crucial directors to the team that bring a wealth of management experience to the board. Additionally they have public company experience that will be important in the goal to move Adventus toward an initial public offering during the first half of 2013.
Brad Newell, Chairman of Adventus, states, “We are very happy to welcome Bill LeClair and Greg Cameron to our board of directors. These gentlemen have extensive management and commercial real estate experience. They round out our board; we now have three chartered accountants on our board, two of them have reached the positions of being awarded Fellowship in the Institute of Chartered Accountants of British Columbia. Their experience and expertise will be important in our growth going forward, and we are very fortunate to be able to attract such high quality individuals to our board.”
During Bill LeClair’s career, he has been on the boards and served in executive positions of several companies trading on Toronto Stock Exchange (TSX). He also spent 12 years as VP Operations with Burrard International Holdings Inc., which is a high profile commercial real estate organization headquartered in Vancouver. Bill qualified as a Chartered Accountant in 1979 from the Institute of Chartered Accountants of B.C., and was elected as a Fellow (FCA) of this institute in 2010. His vast experience during his career will play a crucial role in listing Adventus on the TSX, and help the growth prospects of Adventus going forward.
Since 2008 until now, Greg Cameron has been a CEO of Noralta Lodge Ltd., which is a 2250 room lodging business in Ft. McMurray Alberta, primarily serving Suncor. He has been a Trustee and Chair of the Audit and Finance Committee of the Alberta Cancer Foundation. He has also lectured extensively for the Canadian Tax Foundation, CICA, University of Alberta, and the Alberta Bar Association. Greg obtained his CA designation from the Institute of Chartered Accountants of Alberta in 1985. During his tenure leading Noralta Lodge Ltd., he has been instrumental in significantly growing the company over the past five years. Adventus has significant growth goals and Greg Cameron’s input and direction will help Adventus achieve those goals.
Adventus Realty Trust (the Trust) is pleased to provide an update regarding the first quarter 2012 (the initial quarter) of operations for the Trust. In our first quarter of operations, we have accomplished several milestones, including the closing of our first building acquisition and the initial preferred cash distribution.
Adventus is a Canadian based Real Estate Investment Trust, which is focused on commercial real estate in America. The Trust’s cornerstone property is the Elgin Chase building in suburban Chicago, which was purchased significantly below replacement cost, has appreciated substantially from its purchase price, and has seen its free cash flow from operations grow and cover the dividend payments to unit holders. The Elgin Chase building is an ideal example of the focus of Adventus; buying at good prices, operating profitably and owning properties with substantial capital gains potential.
In closing, people are keys to the growth of a business. In addition to our advisors, founders, and new additions to our board of directors, Adventus has built an outstanding team to guide the Trust towards its goals for growth.
ADVENTUS REALTY SERVICES INC.
By its Trustee: ADVENTUS REALTY SERVICES INC.
Per: Rodney B. Johnston, FCA
Chief Executive Officer