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Toronto-based Inovalis Real Estate Investment Trust (OTCMKTS: IVREF; TSX: INO.UN) announced the appointment of Stéphane Amine as president and CEO.

Amine is the founder of Inovalis SA, that French Alternative Investment fund that is the manager of the REIT. He replaces David Giraud, who is stepping down for undisclosed personal reasons.

Inovalis REIT indirectly acquires real estate properties via CanCorPEurope, and is authorized as an Alternative Investment Fund by the CSSF in Luxemburg.

“We welcome Stéphane to this new role. His deep knowledge of Inovalis and Inovalis REIT coupled with his experience in European real estate investment and syndication of funds provides steady and strong leadership for the REIT,” said Jean-Daniel Cohen, chairman of the board.