Gulf & Pacific Equities Corp., a Toronto-based company specializing in acquiring and managing anchored shopping centres across Western Canada, has released its 2025 financial results, revealing a slight revenue contraction alongside significant leadership changes within its finance department.
The company reported revenue of $4,627,181 for the year ended December 31, 2025, marking a marginal 1.0 per cent decline from $4,673,950 in the same period a year earlier. The modest decrease underscores the steady but challenging operating environment facing retail real estate operators in the region.
New Chief Financial Officer Takes the Helm
Gulf & Pacific has announced the appointment of Daniel Steinertas as Chief Financial Officer, effective May 1, 2026, pending regulatory approval. Steinertas brings more than 14 years of experience in financial management and real estate operations, with a background encompassing investment analysis, mortgage financing, and commercial property operations.
The move comes as Greg K.W. Wong, who served as CFO for over two decades, transitions into retirement. Wong's contributions to the company span 21 years, during which he helped navigate the company through significant market shifts and real estate cycles.
"I would like to sincerely thank Mr. Greg Wong for his 21 years of service for Gulf & Pacific Equities Corp. and its shareholders. It was always a pleasure working with Greg, and he is the ultimate professional. We wish Greg well in his retirement, and look forward to working with Daniel going forward," said Anthony Cohen, President and Chief Executive Officer.
Wong will remain with the company as a Director and Corporate Secretary, ensuring continuity during the transition period.
Strategic Financial Updates
In addition to the leadership appointment, Gulf & Pacific has announced a shift to semi-annual financial reporting and has successfully refinanced mortgages that were previously due. The company's detailed financial statements, prepared under International Financial Reporting Standards (IFRS), are available on SEDAR and the company's website at www.gpequities.com.
The company's portfolio of anchored shopping centres in Western Canada continues to serve as the foundation for its revenue generation, despite headwinds facing the traditional retail real estate sector.
This article is based on financial disclosures originally reported by Financial Post and GlobeNewswire.