- What Slate Office REIT will be known as Ravelin Properties REIT
- Why The REIT accelerated the termination of its management agreement with Slate Management
- What next Shant Poladian will lead the firm as CEO
Slate Office REIT will be renamed Ravelin Properties REIT, effective Dec. 31.
The company will also change its Toronto Stock Exchange ticker to RPR.UN from from SOT.UN, and its three publicly traded debentures also will be renamed.
The rebranding comes as Slate Office accelerated the termination of its management agreement with external manager Slate Management to Dec. 31 from March 30. Slate Office will pay the manager $2m, roughly the amount it would have paid through the end of March.
Following the move, Shant Poladian will take the helm as chief executive, effective Jan. 1, 2025.
Poladian was appointed to the firm’s board of trustees in November. He will continue to serve as a trustee.
Slate Office announced that it would internalize its management in October. The move came as the REIT grappled with over $1bn of debt.
