Northern Property Announces Senior Management Changes

CALGARY, Jan. 10, 2013 /CNW/ - Northern Property Real Estate Investment Trust ("NPR") (NPR.UN - TSX) has announced senior management changes at its Calgary Head Office.

Mr. Todd Cook, C.A. is being promoted to the post of President and Chief Operating Officer for the REIT.  Mr. Cook joined Northern Property in 2006 as Chief Financial Officer and served in that capacity through 2009.  In 2010 he became Executive Vice President with responsibility for property operations across the country as well as working on a variety of corporate assignments.  Prior to joining NPR, Mr. Cook served as Chief Financial Officer of TGS REIT.

Mr. Robert Palmer, C.A. has been appointed as NPR's Chief Financial Officer.   Mr. Palmer has more than 15 years of financial management and accounting experience in multiple industries.  Most recently Vice President and Controller with WestJet Airlines Ltd., Mr. Palmer has also served in key financial capacities at Molson Inc. and BCE Emergis Inc.

Mr. B. James Britton, NPR's founding President and Chief Executive Officer will continue as Chief Executive Officer as well as a Trustee of NPR and Director of NorSerCo Inc.  As Chief Executive Officer, Mr. Britton will focus on business development, the strategic direction of the REIT as well as providing leadership and advice to the senior management team.

Mr. Douglas H. Mitchell, CM, AOE, QC commented, "The management changes announced today are part of the Board's long term succession planning process.  We are pleased to have a committed and experienced group of senior managers step up to take more advanced roles in the REIT while maintaining the management continuity which has successfully guided the REIT since its inception in 2002."

SOURCE: Northern Property Real Estate Investment Trust

Mr. B. James Britton, CEO, at 403-531-0725