Business & Finance
Business and Finance
Business and Finance
Fri, April 29, 2011 Whiterock REIT Announces Appointment of Frank Bucys as Trustee and Kursat Kacira as New CFO
TORONTO, April 29 /CNW/ - Whiterock Real Estate Investment Trust ("Whiterock") (TSX: WRK.UN) is pleased to announce the immediate appointment of Mr. Frank Bucys as a member of its Board of Trustees and Mr. Kursat Kacira as the new Chief Financial Officer for the REIT, on Mr. Bucys' retirement, effective June 6, 2011. Mr. Bucys has had a long and distinguished professional career in Canada with over 25 years of real estate and finance experience, most recently as CFO of Whiterock and previously as CFO of First Capital Realty Inc. Mr. Kacira is an accomplished professional and brings to Whiterock over 17 years of real estate, finance, capital markets, and accounting experience both in Canada and the United States. Most recently, Mr. Kacira was Vice President & Director in the Real Estate Group, Investment Banking at TD Securities Inc. in Toronto, where he worked for the last 9 years. Mr. Kacira is a Chartered Accountant (Ontario), has a Master of Business Administration (Dean's Scholarship) from New York University, and a Bachelor of Mathematics (Honours) from the University of Waterloo. In the CFO role, Mr. Kacira will succeed Mr. Bucys, who will provide transitional support to Mr. Kacira until August 15, 2011.
Jason Underwood, Chief Executive Officer of Whiterock said, "We are delighted that Kursat will be joining Whiterock as CFO. His experience and knowledge will be a valued addition to our management team. Kursat is well known to the Whiterock team, having served as our trusted lead investment banker over the last several years. I am confident that Kursat as our CFO will be able to make immediate and long-term contributions to our activities". He added, "Frank has been a key member of the team that has built Whiterock to its current stature. Since inception in 2005, we have grown to owning and managing a national portfolio of high-quality diversified commercial real estate, amounting to approximately 8.1 million square feet of gross leasable area across 76 properties and across 8 provinces. Frank has played an important role in all of Whiterock's achievements. On behalf of Whiterock and the Board, we thank Frank for his 6 years of dedicated service to Whiterock and we welcome him as a new Trustee."
Mr. Bucys said, "It has been a privilege to be a part of Whiterock since inception and to serve its unitholders. I am honoured to continue my association with Whiterock on the Board of Trustees and to know that Whiterock will be in such capable hands as it continues to grow."
Mr. Kacira said, "I am excited to be assuming the role of CFO at this time. Whiterock benefits from an established and high-quality national platform of real estate ownership and management. I look forward to working with Whiterock's management team to capitalize on this platform and to pursue continued growth in order to firmly position Whiterock as one of the leading diversified commercial REITs in Canada."
About Whiterock REIT
Whiterock REIT is a growth-oriented diversified commercial REIT with a significant presence in major Canadian markets. Whiterock's wholly-owned, co-owned, and managed aggregate real estate portfolio amounts to approximately 8.1 million square feet of gross leasable area across 76 properties and across 8 provinces.
