Mario Barrafato will retire in the New Year as chief financial officer at Choice Properties REIT (CHP.UN-T), to be succeeded by Erin Johnston, the trust's current senior vice-president of finance.

The move is effective March 1, 2025. 

Barrafato worked at Molson Inc. and KPMG earlier in his career before joining Dream Office REIT, where he later became CFO.

He was CFO and executive vice-president at Canadian Real Estate Investment Trust (CREIT) until 2018, when it was acquired by Choice Properties REIT. Following that transaction, Barrafato became CFO of Choice, a position he has held for the past decade. 

Johnston worked at Daimler, KPMG and AGF Investments before joining the Weston group of companies in 2011 as financial reporting manager for Loblaw Digital, working her way up to senior director of finance in 2019. She spent a year at George Weston Limited as senior director of financial reporting for special projects before joining Choice Properties REIT as VP of finance in 2022. 

“Choice Properties has benefited from Mario’s leadership, deep industry knowledge, and relentless focus on delivering strong and consistent financial performance during his tenure. On behalf of everyone at Choice, I am grateful for Mario’s many contributions,” president and CEO Rael Diamond said in a released statement. 

“I am also pleased to have Erin succeed Mario as CFO,” Diamond added, “which is a testament to her skill and experience, and our commitment to talent development and growth.” 

Loblaw spun off its real estate holdings into a separate company called Choice Properties REIT in 2013. After completing an IPO and acquiring CREIT, Choice further diversified its assets to include office, residential and industrial properties. 

Two senior appointments at WSP Global

WSP Global Inc. (WSP-T) will ring in the New Year with two promotions on its executive team. Effective Jan. 1, Mark Naysmith will move into the role of global chief operating officer from his current position as president of EMEIA (Europe, Middle East, India and Africa). 

In addition, Paul Reilly will ascend to the position of president and managing director of WSP U.K. and Ireland after two years as deputy CEO for U.K. and Ireland.

Naysmith’s career at WSP stretches back 36 years. He joined the firm in 1988 as U.K. managing director and has served in several roles including U.K. CEO. In 2014 the Association of Consultancy and Engineering (ACE) named him its European CEO of the Year. 

Reilly joined WSP as deputy U.K. CEO in 2022. He served as managing director of infrastructure and buildings at Stantec U.K. from 2020 to 2022 and had a 13-year career at Peter Brett Associates prior to that. 

Montreal-based WSP provides engineering and design services for clients in the property, real estate, transportation, infrastructure, energy and mining sectors. 

BOMA names Avison Young's Lacheur as new chair

Neil Lacheur is the new chair of the board of directors at the Building Owners and Managers Association (BOMA) Canada.

Lacheur was treasurer and vice-chair of BOMA Canada before this appointment.

Since 2019 he’s been a principal and executive VP of real estate management services at Avison Young. His other past experience includes roles as senior VP of customer experience at QuadReal Property Group, VP of property

Nishimura heads up new division at Baker RE

Baker Real Estate has named Todd Nishimura vice-president of its newly launched purpose-built rental division.

Nishimura comes to the job from Community Agency, where he was vice-president of real estate marketing. He launched his career at Campbell Soup Company before assuming roles at Four Seasons Hotels and Resorts and GWL Realty Advisors.

Roth becomes interim CFO at Firm Capital Apartment REIT

Claudia Alvarenga has stepped down from her position as CFO at Firm Capital Apartment REIT (FCA.U-X).

Alvarenga resigned to pursue other opportunities outside of real estate and public markets. She was appointed CFO in 2022 following positions at Manulife, MNP, and Neudorfer Corp. 

Mordechai Roth has been named interim CFO of Firm Capital Apartment REIT. He joined the company as a portfolio accountant in 2021. 

Tsaknis joins Colliers Toronto as vice president

Jim Tsaknis has accepted a position as vice-president and sales representative at Colliers Canada in Toronto. 

He was previously a VP and broker at Cushman & Wakefield. Prior to that, Tsaknis spent 13 years at Bell Canada. His other previous positions include roles with 360 Networks, GT Group Telecom, and Rogers Communications Inc. 

Harker named interim CFO at Frontenac MIC

Daniel Komorowski has resigned from his position as chief financial officer at Frontenac Mortgage Investment Corporation.

Katie Harker has been appointed interim CFO. 

Komorowski had been CFO at Frontenac since 2022, joining the firm after serving in previous financial roles at Pathwise Credit Union, idX Corp., Patheon Inc., and McGraw-Hill Education. 

Harker was formerly the COO and financial controller at Bendale Property Management. She had worked for Frontenac previously from 2019 until 2023, most recently as corporate controller.