| Dear Unitholders,
The Board of Trustees (“the Board”) of All Island Equity REIT (“All Island REIT”) is pleased to announce the election of Shelley Legin as Chair, effective April 1st, 2025. |
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| Shelley, a member of All Island REIT’s Board since 2022, brings over forty years of distinguished leadership experience spanning the public sector, financial services, and higher education. Her executive roles have included Chief Financial Officer and Vice-President Administration at Vancouver Island University (VIU), General Manager, Corporate Services at the City of Nanaimo and Vice-President at Crown Investment Corporation (CIC). Shelley’s extensive background in strategic planning, fiscal oversight, and organizational transformation uniquely positions her to guide All Island REIT through its next phase of growth. | |
| Shelley succeeds Garth Busch, who has served on the Board since the inception of All Island REIT in 2017 and was elected as Chair in 2020.
Under Garth’s stewardship, All Island REIT has grown from its initial portfolio acquisition of $60m in 2017 to $272M in assets under management1 delivering an annualized return of 11.04% since inception1,2 . Garth will continue to serve on the Board as Vice Chair/Past Chair. |
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| This leadership transition forms a key component of All Island Equity REIT’s governance strategy and succession planning, reinforcing its enduring commitment to the principles of transparency, accountability, and safeguarding unitholders’ equity.
We would like to thank Garth for his tireless dedication and commitment to All Island REIT over the last eight years and are thrilled to have Shelley as our Chair. 1 As at March 31, 2025 (unaudited) 2 Class F DRIP Units |
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