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True North Commercial Real Estate Investment Trust Announces Tracy Sherren to Retire as President and CFO and continue as a member of the Board of Trustees

True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the “REIT“) today announced that effective June 30, 2023, Tracy Sherren, the REIT’s President and Chief Financial Officer and President, Canadian Commercial, Starlight Investments, will be retiring from her executive positions at the REIT and Starlight Investments. Ms. Sherren will remain as a trustee of the REIT. Martin Liddell, the current Chief Financial Officer at Starlight Investments, will be appointed as Chief Financial Officer of the REIT in addition to his positions at Starlight Investments. Chris Bell will continue to act as the President and Chief Investment Officer at Starlight Investments as well as serving as the interim President of the Canadian Commercial division at Starlight Investments.

“We are grateful for Tracy’s significant contributions to True North Commercial Real Estate Investment Trust since its inception and to Starlight Investments,” said Daniel Drimmer, Chief Executive Officer of the REIT and Starlight Investments. “We wish her well in her retirement and look forward to benefiting from her continued sound advice and counsel as a trustee of the REIT.”

About the REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 46 properties consisting of approximately 4.9 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.

For more information regarding the REIT, please visit www.sedar.com or the REIT’s website at www.truenorthreit.com.

Written by Shantel

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