The board of Finland's Orava Residential Real Estate Investment Trust PLC has appointed three directors to take responsibility for its real estate portfolio, renting and legal affairs, respectively.
Pekka Komulainen has been appointed to structure the REIT's properties, while managing the sale, acquisition and development of assets. Timo Tanskanen, who was previously regional director for Southern Finland at Suomen Hoivatilat Oyj, will manage the renting and maintenance of properties.
Jouko Kiesi will take charge of legal affairs, risk management and compliance.
The appointments will become effective following the board's approval, at a Sept. 10 extraordinary general meeting, of proposed changes to the REIT's corporate structure. Orava Residential plans to change its name to Avaro Kiinteistösijoitus Oyj and amend its articles of association.