07:46 AM EST, 12/29/2025 (MT Newswires) -- John S. Bailey reported over the holiday weekend that he no longer has voting control over 2 million trust units of BSR Real Estate Investment Trust (HOM-U.TO, HOM-UN.TO).

"These Trust Units are held by a trust established for the benefit of certain executive officers and employees of the REIT," noted the statement.

The statement also noted that, since the establishment of the trust, Bailey held only voting control over the related trust units and that his voting control has ceased.

The 2 million trust units remain held by the employee trust and have not been transferred or sold.

Additionally, the statement noted that, W. Daniel Hughes Jr., a trustee of the REIT, replaced Daniel M. Oberste, the REIT's President and Chief Executive Officer, as the sole trustee of the employee trust. Hughes will exercise control and direction over the 2 million trust units held by the employee trust for the benefit of the employees.