CAPREIT Appoints Board Trustee David Ehrlich President and Chief Executive Officer

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[{"type":"text","content":"\n\n\n\nCAPREIT Appoints Board Trustee David Ehrlich President and Chief Executive Officer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 1, 2017\n\n\n\nTORONTO, Nov. 1, 2017 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) (\"CAPREIT\") announced that David Ehrlich has been appointed President and Chief Executive Officer, effective today. The appointment follows the loss of the Company's founder and CEO, Thomas Schwartz, who passed away on August 15, 2017. In conjunction with assuming this role, Mr. Ehrlich will step down as CEO of Irish Residential Properties REIT Plc (IRES) but will remain on the board of IRES as the nominee of its asset manager, a CAPREIT company.\n\nMr. Ehrlich has served as a member of CAPREIT's Board of Trustees since February 2013. He has more than 30 years of experience in the industry, most recently serving as CEO of IRES, a company founded by CAPREIT, which he led through its initial public offering in 2014. During his tenure, IRES grew its asset base from approximately $58 million to over $1 billion, becoming Ireland's largest non-governmental landlord. Prior to joining IRES, Mr. Ehrlich was a senior partner at Stikeman Elliott LLP and was a leader in the introduction of REITs in Canada. From the time of CAPREIT's IPO, Mr. Ehrlich worked closely with Mr. Schwartz and Michael Stein, Chair of CAPREIT, providing strategic input into growth and development in addition to his role as a legal advisor. \n\nMr. Stein said, \"While we mourn Tom's passing, we are fortunate to have David step into this role and lead the company forward. David's industry expertise, including the strong performance of IRES under his leadership, as well as his extensive experience within the company, will provide continuity to the business. Importantly, the management team's strength, resolve and complete support of David will ensure that we maintain our strong momentum. CAPREIT has one of the most robust balance sheets in the industry and a proven ability to capitalize on strong fundamentals through all econ...

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