Ravelin Properties REIT has hired an internal management team after rebranding and parting ways with its former external asset manager.

The entity was formerly known as Slate Office REIT and managed by Slate Asset Management (SAM.) The REIT and SAM agreed to part ways following a protracted battle among the REIT’s board members.

The management internalization was originally scheduled to conclude in March, but the debt-laden REIT and SAM subsequently agreed to complete the deal on December 31. To facilitate the acceleration, the REIT made a $2-million termination fee to SAM.

Ravelin’s new management team includes Robert Hibberd as CFO, Rachna Morgado as chief operating officer, Sarah Jane O’Shea and Jeremy Kaupp as managing directors, Emmanuel Muyal as senior vice-president of finance, Gopikannan Pillai as senior vice-president of Legal, and Dan Sheremeto as senior vice president of real estate and corporate finance.

The executives will work closely with Shant Poladian, who became CEO on January 1.

“Our team is now in place and operating across our global platform, including fully functioning accounting, finance, corporate and real estate operations,” said Poladian. “We are well-positioned to move forward with the REIT’s strategic goals as we navigate the challenges and opportunities ahead of us.”

Ravelin Chair George Armoyan said the REIT is entering a new chapter with a fully internalized leadership team. Armoyan, a Nova Scotia-based commercial real estate investor and developer, assumed the board’s helm following the battle that led to its overhaul and the management internalization.

“This is a key step which I have been personally looking forward to seeing for some time now,” he said.

Ravelin owns and operates a diverse portfolio of commercial real estate assets across North America and Europe, with a focus on government and high-credit tenants.

Pictured: Ravelin property in Winnipeg

Photo: Ravelin Properties REIT