Slate Office REIT Announces Senior Management Change

Slate Office REIT (TSX: SOT.UN) (the "REIT"), an owner and operator of high-quality workplace real estate, today announced that Robert Armstrong, Partner and Chief Operating Officer (“COO”) of Slate Asset Management, will assume the role of Chief Financial Officer (“CFO”) of Slate Office REIT. Armstrong will replace Charles Peach, who is stepping down from his role as CFO, effective August 17, 2023.

Armstrong brings over two decades of experience in corporate finance, financial reporting, and capital markets in North America and Europe to the role of CFO. He previously served as CFO of the REIT from 2015 to 2019 and has actively supported the REIT’s growth and operations as a member of the senior leadership team of Slate Asset Management over the last four years.

Prior to joining Slate, Armstrong was a partner in the real estate practice of Deloitte LLP in Toronto, Canada, where he was also on the executive committee for the Toronto assurance practice and was Deloitte’s Canadian IPO leader. Previously, he worked at Brookfield Asset Management Inc. in various treasury, finance, and financial reporting positions. Armstrong is a Chartered Professional Accountant, Chartered Accountant, and holds an Honours Bachelor of Business Administration degree from Wilfrid Laurier University.

“Robert’s strong track record in corporate finance and capital markets and his experience as COO of Slate Asset Management’s global investment and asset management platform will be invaluable to the REIT as we manage through a persistently challenging operating environment,” said Monty Baker, Chair of the Board of the REIT. “With the global office sector facing significant headwinds, we believe Robert’s leadership and deep understanding of our business will enable us to further enhance the REIT’s financial strength and flexibility with a view toward long-term value preservation for our unitholders.”

Baker added: “On behalf of the entire Board, I’d like to thank Charles for his many contributions during his tenure as CFO. The REIT has greatly benefitted from his leadership, expertise, and forward-thinking, particularly as the business has navigated a volatile and rapidly evolving macroeconomic environment. We wish him all the best in his future endeavors.”

Armstrong will work closely with Peach and the REIT’s senior leadership team over the coming weeks to ensure a seamless transition of responsibilities.

About Slate Office REIT (TSX: SOT.UN)

Slate Office REIT is a global owner and operator of high-quality workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. The majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. The REIT acquires quality assets at a discount to replacement cost and creates value for unitholders by applying hands-on asset management strategies to grow rental revenue, extend lease term and increase occupancy. Visit slateofficereit.com to learn more.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Forward-Looking Statements

Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans,” “expects,” “does not expect,” “scheduled,” “estimates,” “intends,” “anticipates,” “does not anticipate,” “projects,” “believes,” or variations of such words and phrases or statements to the effect that certain actions, events or results “may,” “will,” “could,” “would,” “might,” “occur,” “be achieved,” or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.

SOT-SA

View source version on businesswire.com: https://www.businesswire.com/news/home/20230719127772/en/

For Further Information
Investor Relations
+1 416 644 4264
[email protected]