Changes at the top for real estate investment trust

by Steve Randall20 Jun 2018

RioCan Real Estate Investment Trust is changing its leadership following its COO’s decision to resign.

Raghunath Davloor will leave the role of president and COO that he’s held since 2014. Davloor joined the trust in 2008 as chief financial officer and helped guide the trust through the volatility of the capital markets and the financial crisis.

“Rags has been a trusted and valued member of our executive team for the past ten years and has left a lasting mark on our organization. I would like to thank him for his contributions and wish him continued success in the future,” said Edward Sonshine, Chief Executive Officer of RioCan.”

Successor named

Davloor’s successor will be Jonathan Gitlin, currently senior vice president, investments and residential. He has been with RioCan since 2005 and has played a major role in its push into the US.

“I would like to congratulate Jonathan on his well deserved promotion to Chief Operating Officer. In his expanded role as COO, Jonathan will be a key contributor to RioCan’s future as we implement our strategic vision for continued growth,” said Sonshine.

RioCan currently has a portfolio of 284 properties, including 17 development properties, with an aggregate net leasable area of approximately 43 million square feet.

Its market value at the end of March 2018 was approximately $13.7 billion.

 


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