FREDERICTON, NB, Nov. 23,
2023 /CNW/ - Plaza Retail REIT ("Plaza" or the
"REIT") (TSX: PLZ.UN) today announced the appointment of
Jason Parravano as Chief Operating
Officer ("COO") of the REIT, effective January 8, 2024.
"On behalf of the board and the entire team, we are pleased to
welcome Jason Parravano as COO,"
said Michael Zakuta, Plaza's
President & Chief Executive Officer. "His leadership
skills, experience in commercial real estate and in the financial
industry make Jason a great fit for this role. We look
forward to working with him in continuing to advance the REIT's
strategic objectives and driving growth for many years to
come."
Prior to joining the Walter Group as Chief Financial Officer of
the asset management business activities, Mr. Parravano spent eight
years at Canadian Net Real Estate Investment Trust, where he was
President & Chief Executive Officer and had complete oversight
of day-to-day management of the trust and execution of its
strategy. He is a graduate of Concordia
University's John Molson
School of Business and holds a Chartered Professional
Accountant (CPA) designation.
ABOUT PLAZA
Plaza is an open-ended real estate investment trust and is a
leading retail property owner and developer, focused on
Ontario, Quebec and Atlantic
Canada. Plaza's portfolio at September 30, 2023 included interests in 233
properties totaling approximately 8.9 million square feet across
Canada and additional lands held
for development. Plaza's portfolio largely consists of
open-air centres and stand-alone small box retail outlets
predominantly occupied by national tenants. For more information,
please visit www.plaza.ca.
CAUTIONARY STATEMENTS REGARDING
FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements relating
to Plaza's operations, prospects, outlook and condition, including
with respect to Plaza's expectations regarding the future of its
business. Forward-looking statements are not future guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Plaza to be materially different
from any future results, performance or achievements expressed,
implied or projected by forward-looking statements contained in
this press release, including but not limited to impacts on the
business, operations and financial condition of the REIT, its
tenants and the economy in general; changes in economic, retail,
capital market, or debt market conditions, including recessions and
changes in, or the extent of changes in, interest rates and the
rate of inflation; supply chain constraints; competitive real
estate conditions; any unforeseen impacts from new or renewed
pandemic conditions and others described in Plaza's Annual
Information Form for the year ended December
31, 2022 and Management's Discussion and Analysis for the
nine months ended September 30, 2023
which can be obtained on the REIT's website at www.plaza.ca
or on SEDAR+ at www.sedarplus.ca. Forward-looking statements
are based on a number of expectations and assumptions made in light
of management's experience and perceptions of historical trends and
current conditions, including that progress continues on Plaza's
development program and that tenant demand for space
continues. Although based upon information currently
available to management and what management believes are reasonable
expectations and assumptions, there can be no assurances that
forward-looking statements will prove to be accurate. Readers,
therefore, should not place undue reliance on any forward-looking
statements. Plaza undertakes no obligation to publicly update any
such statements, except as required by law. These cautionary
statements qualify all forward-looking statements contained in this
press release.
SOURCE Plaza Retail REIT