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Toronto-based Slate Office REIT (TSX: SOT.UN), an owner and operator of high-quality workplace real estate, announced the appointment of Brady Welch, founding partner of Slate Asset Management, as interim CEO. Welch will replace Steve Hodgson, who is stepping down to pursue other opportunities, effective May 12.

Prior to co-founding Slate Asset Management, Welch held senior management positions with Fortress Investment Group in New York, where he was responsible for direct investments in real estate equity and debt portfolios and related asset management strategies in Canada, the U.S. and Europe. Before that, he managed Truscan’s (now TD Canada Trust) investments in Class A office towers in Canada’s five major urban markets. He has been a trustee of the REIT’s board since its inception and will remain a trustee during his tenure as interim CEO.

“Brady is a proven leader whose global real estate expertise and deep knowledge of our business will be invaluable in the next phase of the REIT’s growth,” said Monty Baker, chairman of the board of the REIT. “With the global office sector facing significant headwinds, Brady’s decades of experience navigating through various economic cycles in Canada, the U.S., the Europe will help us further strengthen the REIT’s position to execute on our strategy for long-term performance.”