Choice Properties Real Estate Investment Trust and Canadian Real Estate Investment Trust announced the successful completion of the previously announced plan of arrangement which immediately results in the creation of Canada's premier diversified real estate investment trust. Stephen Johnson, Rael Diamond, and Mario Barrafato have assumed leadership roles at Choice Properties as President and Chief Executive Officer, Chief Operating Officer and Chief Financial Officer, respectively. John Morrison has stepped down as President and Chief Executive Officer of Choice Properties and will serve as non-executive Vice Chairman providing guidance to the combined organization.

In connection with the completion of the Transaction, the Choice Properties Board of Trustees has appointed Stephen Johnson, Karen Kinsley and Michael Latimer, all former CREIT trustees, to serve on the Choice Properties board while Dan Sullivan, Lead Trustee for Choice Properties, has stepped down from the Choice Properties Board.