Draft:Pro REIT
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|  |
| Company type | Public company |
|---|---|
| Industry | Real estate, property management |
| Founded | March 2013 |
| Founders | James W. Beckerleg and Gordon G. Lawlor |
Area served | Canada |
Key people | James W. Beckerleg Trustee, Chair of the Board and Co-Founder
Gordon G. Lawlor, CPA, President and Chief Executive Officer, Co-Founder and Trustee Alison Schafer, CPA, Chief Financial Officer and Secretary |
Number of employees | 82 employees (PROREIT and Compass Commercial Realty) |
| Website | https://proreit.ca/en/ |
Overview[edit]
PROREIT is an industrial-focused Canadian unincorporated, open-ended real estate investment trust, which owns portfolio of commercial properties located in secondary markets with a high concentration in Eastern and Central Canada.[1] Founded in 2013, shares of PROREIT trade on the TSX under the symbol “PRV.UN”.[2]
History[edit]
In March 2013, PROREIT was cofounded by James W. Beckerleg[3] and Gordon G. Lawlor[4] and shares of PROREIT began trading on the Toronto Venture Stock Exchange (TSX-V) under the symbol “PRV.UN”.[5]
In 2018, PROREIT acquired 100% of Compass Commercial Realty LP, a Canadian commercial real estate and property management company.[6]
In May 2019, PROREIT graduated to the Toronto Stock Exchange (TSX) and began trading under the symbol “PRV.UN”.[7]
In 2022, PROREIT completed a strategic venture with Crestpoint Real Estate Investments Ltd to jointly own 42 industrial properties in Halifax, Nova Scotia and New Brunswick.[8]
Properties[edit]
With a concentration in Eastern and Central Canada, PROREIT’s industrial-focused real estate portfolio consists of commercial properties located in secondary markets.[9] At the end of Fiscal 2022, the portfolio reached over C$1 billion in total assets.[10]
Property Management Division[edit]
Acquired in 2018, PROREIT owns 100% of Compass Commercial Realty LP, a property management firm headquartered in Halifax, Nova Scotia, and operating across Canada. Compass employs over 70 people and offers commercial property management and real estate services to institutional, corporate and private clients.[11]
References[edit]
- ^ "Busines Summary". Market Screener.
- ^ "PRO Real Estate Investment Trust (PRV.UN) To Trade on Toronto Stock Exchange". TMX Exchange. 2019-05-03.
- ^ Marr, Garry (2022-10-05). "Co-Founder of Montreal's PROREIT to Step Down From Top Job in April". CoStar.
- ^ "Company Profile". Yahoo! Finance.
- ^ "Company News Release". PROREIT. 2013-03-12.
- ^ "PROREIT buys 12 properties, internalizes management". Real Estate News Exchange. 2018-06-07.
- ^ "PRO Real Estate Investment Trust (PRV.UN) To Trade on Toronto Stock Exchange". TMX Exchange. 2019-05-03.
- ^ "PROREIT, Crestpoint form $455M industrial JV". Real Estate News Exchange. 2022-06-21.
- ^ "Busines Summary". Market Screener.
- ^ McLean, Steve (2023-03-24). "Milestone call for PROREIT: $1B in assets, new CEO on way". Real Estate News Exchange.
- ^ "PROREIT, Crestpoint form $455M industrial JV". Real Estate News Exchange. 2022-06-21.