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Summit Industrial Income REIT (SMU_u.TO)

SMU_u.TO on Toronto Stock Exchange

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Summary

Name Age Since Current Position

Louis Maroun

69 2012 Independent Chairman of the Board of Trustees

Paul Dykeman

58 2019 Chief Executive Officer, Trustee

Ross Drake

2012 Chief Financial Officer

Kimberley Hill

2018 Senior Vice President - Asset Management

Jonathan Robbins

2018 Senior Vice President - Acquisitions

James Tadeson

55 2015 Lead Independent Trustee

Dayna Gibbs

43 2019 Independent Trustee

Lawrence Morassutti

64 2013 Independent Trustee

Saul Shulman

81 2012 Independent Trustee

Michael Catford

75 2014 Independent Trustee

Biographies

Name Description

Louis Maroun

Mr. Louis Joseph Maroun serves as Independent Chairman of the Board of Trustees of the Company. Mr. Maroun has been a trustee of the REIT since September 25, 2012, and his term of office expires the date of the Meeting, and as such, the REIT is seeking his reappointment. Mr. Maroun is also the Chairman of the Board and a member of the REIT’s compensation committee (“Compensation Committee”). Mr. Maroun began his real estate career in 1982 following seven years with the Nova Scotia Department of the Attorney General. In 1996, along with his partners, he launched Summit REIT and under his tenure as Chief Executive Officer, it grew to become one of Canada’s largest real estate investment trusts and the country’s largest publicly traded owner and manager of industrial real estate with approximately $3.5 billion in assets. Following Summit REIT’s successful privatization by ING Real Estate in 2006, Mr. Maroun became Chairman of ING Real Estate Canada until 2009. Mr. Maroun is also a former board member and former Lead Director of Acadian Timber Income Fund, former Chairman of InStorage REIT, and former board member of Brookfield Infrastructure Partners L.P., a Toronto Stock Exchange (“TSX”) and New York Stock Exchange (“NYSE”) listed public company. Mr. Maroun is also a board member of Brookfield Energy Partners L.P., a member of its governance committee and a board member and Chair of the governance committee of Brookfield Property Partners L.P. (both TSX and NYSE listed companies). In 2006, Mr. Maroun was honoured by his election to the position of Fellow of the Royal Institution of Chartered Surveyors.

Paul Dykeman

Mr. Paul Malcolm Dykeman CPA serves as Chief Executive Officer, Trustee of the Company. Mr. Dykeman has been a trustee of the REIT since September 25, 2012, and his term of office expires the date of the Meeting, and as such, the REIT is seeking his reappointment. Mr. Dykeman is also a member of the REIT’s investment committee (“Investment Committee”). Mr. Dykeman began his real estate career in 1990 as the Controller of Roycom, a pension and mutual fund real estate advisor, prior to which he spent six years in a variety of increasingly senior roles with an international audit and accounting firm. In 1996, he, along with Mr. Maroun, launched Summit Real Estate Investment Trust (“Summit REIT”) and in 1998 was appointed its Chief Financial Officer. With Summit REIT’s acquisition by ING Real Estate in 2006, Mr. Dykeman was appointed Chief Executive Officer of ING Real Estate Canada, responsible for all aspects of its operations, including real estate transactions, investment and property management, finance and ING Real Estate Canada’s strategic direction. Mr. Dykeman obtained a Bachelor of Commerce degree from Dalhousie University in 1984, and his chartered accountant designation in 1986.

Ross Drake

Mr. Ross Drake CPA serves as Chief Financial Officer of the Company. Mr. Drake began his real estate career over 28 years ago. In 1995, he joined Roycom, a pension and mutual fund real estate advisor. In 1998, Mr. Drake joined Summit REIT where he served in a variety of increasingly senior roles. Following Summit REIT’s acquisition by ING Real Estate in 2006, Mr. Drake joined ING Real Estate Canada, where he served as a director responsible for financial analysis from 2006 – 2008, and then as its Senior Vice President of Research and Analysis from 2008 – 2010. Mr. Drake became the Chief Financial Officer of Summit II on September 25, 2012. Mr. Drake obtained a Bachelor of Arts from St. Francis Xavier University in 1981, a Master’s in Business Administration from Dalhousie University in 1984, and his chartered accountant designation in 1986.

Kimberley Hill

Ms. Kimberley Hill serves as Senior Vice President - Asset Management of Summit Industrial Income REIT. Ms. Hill has over 29 years of experience in the commercial real estate industry. Ms. Hill is the Senior VP of Asset Management for Summit II. From 2008 – 2010, Ms. Hill served as the Senior VP of Asset Management for ING Real Estate Canada, and from 1999 – 2008, Ms. Hill served as VP, Central Canada for Summit REIT. Prior to 1999, Ms. Hill had extensive experience in commercial real estate with a large Canadian real estate company both in property management and leasing of “A Class” office buildings.

Jonathan Robbins

Mr. Jonathan Robbins serves as Senior Vice President - Acquisitions of Summit Industrial Income REIT. Mr. Robbins has over 29 years of experience in the commercial real estate industry. Mr. Robbins is the Senior Vice President, Investments for Summit II. From 2006 – 2009, Mr. Robbins served as the VP of Research and Analysis at ING Real Estate Canada, and from 2004 – 2006, he held the same position with Summit REIT. From 1999 – 2004, Mr. Robbins was VP of Investments at Summit REIT, where he was responsible for directing all of Summit REIT’s investment activities, including more than $1.5 billion of acquisitions, dispositions and developments. During this period he was an integral part of Summit REIT’s transformation into Canada’s third largest REIT and largest industrial landlord. Mr. Robbins joined Summit REIT in 1997 as an investment analyst. Prior to 1997 Mr. Robbins was employed as a consultant at a Canadian real estate valuation firm, where he specialized in property valuation and tax consulting across a broad spectrum of property types. Mr. Robbins obtained a Bachelor’s of Science degree from Acadia University in 1985, and a Bachelors of Environmental Design from the Technical University of Nova Scotia in 1990. He is a past member of the Appraisal Institute of Canada.

James Tadeson

Mr. James Tadeson serves as Lead Independent Trustee of the Company. Mr. Tadeson began his real estate career in 1987 and progressed through various acquisition, development and asset management roles, including as a partner with Ticor Realty Investment Advisors and Vice President, Acquisitions & Development for Morguard Investments Limited. In 1998 he joined Talisker Corporation where he was Senior Vice President, and was responsible for acquiring, structuring, financing, developing, re-developing, managing and disposing of a wide and varied portfolio of real estate assets in Canada, the United States and the United Kingdom. Mr. Tadeson founded Carttera Private Equities Inc. in 2005 and his principal occupation is serving as its Chief Executive Officer and the Chief Executive Officer of each of its investment vehicles. Since founding Carttera Private Equities Inc., he has led the acquisition, financing, development and sale of over $4 billion of real estate assets held within seven investment vehicles, raising capital from public, private and institutional sources. In April 2006, Mr. Tadeson founded InStorage REIT where he served as a trustee and the Chief Executive Officer until the company was taken private in March 2009. Mr. Tadeson obtained an Honours Business Administration degree from the University of Western Ontario in 1987, and his Chartered Financial Analyst designation in 1998. Mr. Tadeson is a member of the Property Committee of the Board of Regents of Victoria University at the University of Toronto.

Dayna Gibbs

Ms. Dayna M. Gibbs serves as Independent Trustee of the Company. Ms. Gibbs has over 20 years of finance, governance and capital markets experience encompassing top-tier bank-owned and independent platforms. Ms. Gibbs began her capital markets career at RBC Capital Markets, where she held progressively senior roles across sales and trading, risk management and real estate investment banking. Subsequent to RBC Capital Markets, Ms. Gibbs joined Brascan Financial Real Estate Group (Brookfield Financial) and subsequently BMO Capital Markets where she played a pivotal role in building a successful full-service North American real estate investment banking platform. She is currently a Partner with Blair Franklin Capital Partners. Ms. Gibbs’ areas of expertise include financial and strategic advisory services to public and private companies and investors across a broad range of asset classes, geographies and structures. Her transactional experience includes many high profile and complex initial public offerings, privatizations and mergers and acquisitions as well as a variety of both debt and equity financings. Ms. Gibbs was previously an independent Trustee and Chair of the Corporate Governance and Nominating Committee of formerly TSX-listed (privatized) Agellan Commercial REIT (“Agellan”), a cross-border industrial property REIT. During her tenure at Agellan, she served on several special committees including, the management internalization special committee, the proxy solicitation special committee (relating to an a ctivist unitholder) and the strategic review special committee. Ms. Gibbs is also a board member of the Foundation Board of King’s University College, The University of Western Ontario.

Lawrence Morassutti

Mr. Lawrence P. Morassutti serves as Independent Trustee of the Company., Mr. Morassutti is the owner of The Morassutti Group of Companies, which are involved in real estate investment and development. Mr. Morassutti is a director of Orlando Corporation, which is Canada’s largest privately-owned industrial developer and landlord. Mr. Morassutti is a director of The Elia Corporation, which is a major private Canadian real estate investment and development company. Mr. Morassutti is a former trustee of the Canadian Real Estate Investment Trust (now Choice Properties REIT), which included being past Chair of both the Investment and Audit Committees. Mr. Morassutti is also past director and co-founder of RealNet-Morassutti Inc., which was RealNet Canada Inc.’s original real estate information company. Mr. Morassutti is a past director of The WoodGreen Foundation, which supports one of the largest social service agencies in Toronto and is a past director of The York School in Toronto. Mr. Morassutti obtained a Bachelor of Commerce degree from The University of Toronto in 1977 and obtained his Chartered Accountant designation in 1979.

Saul Shulman

Mr. Saul Shulman serves as Independent Trustee of the Company. Mr. Shulman began his career at Goodman & Carr LLP, where he worked for 39 years. He is a former director of the advisory board of Brookfield Renewable Power Inc.; a former trustee of Brookfield Renewable Power Trust and a member of its audit committee; a former director of Brookfield Asset Management, a lead director, a member of its audit committee and chairman of its governance and compensation committees; a former director of Tricon Capital Group Inc.; a former director of Summit REIT, a former chairman of the board and a member of its audit and governance committees; a former director of Western Wind Energy Corp, and a member of its audit and compensation committees; a former director of St. Andrew Goldfields Ltd.; a former director of Trizec Corporation Ltd.; a former director of Triumph Energy Corporation; a former director of JDS Investments Limited; and a former director of 1381216 Ontario Inc. (Castlemore Golf & Country Club/Intracorp Developments Ltd.). Mr. Shulman was appointed as Special Counsel to the board of directors of Mascan Corp. (the board was appointed by the Supreme Court of Ontario). Currently, Mr. Shulman’s principal occupation is serving as the Chief Executive Officer of MLG Management Inc., a position he has held since January 2005. In addition, he is a member of the investment committee of Tricon Capital GP Inc. and Tricon USA Inc. He is a former director, member of the audit committee and chair of the governance committee of Acadian Timber Corp. Mr. Shulman is a special advisor to The Elia Corporation, a private real estate company, and also, an advisor to a number of high worth families. Mr. Shulman obtained a Bachelor of Commerce degree from the University of Windsor in 1960. He graduated from Osgoode Hall Law School in 1963 and was called to the Ontario Bar in 1965. Mr. Shulman was appointed Queen’s Counsel in 1984.

Michael Catford

Mr. Michael A. J. Catford serves as Independent Trustee of the Company. Mr. Catford has over 45 years of experience in the real estate industry, and beginning in 1996, worked for the Healthcare of Ontario Pension Plan (“HOOPP”), which is the principal pension provider to healthcare sector employees in Ontario. Mr. Catford retired from his position as Vice President, Real Estate with HOOPP in 2014. Mr. Catford also served as President of HOOPP Realty Inc., which is the fund’s real estate subsidiary. Prior to joining HOOPP, Mr. Catford spent eight years at Drivers Jonas Canada and 13 years at Royal LePage (now Cushman & Wakefield). In addition, Mr. Catford has served as a trustee of Morguard Real Estate Investment Trust since 1997, and in addition to serving as a trustee, Mr. Catford currently serves on Morguard Real Estate Investment Trust’s audit committee, compensation and governance committee and investment committee. Mr. Catford was also elected to the position of Fellow of the Royal Institution of Chartered Surveyors.

Basic Compensation

Name Fiscal Year Total

Louis Maroun

78,125

Paul Dykeman

1,000,000

Ross Drake

750,000

Kimberley Hill

750,000

Jonathan Robbins

750,000

James Tadeson

142,200

Dayna Gibbs

37,550

Lawrence Morassutti

99,150

Saul Shulman

100,400

Michael Catford

89,600
As Of  31 Dec 2019