- Business
- Crombie Real Estate Investment Trust Crombie Real Estate Investment Trust is a Canadian open-ended real estate investment trust that owns, operates and develops primarily grocery-anchored and pharmacy-anchored retail properties; retail-related industrial assets; and mixed-use residential developments in Canada's major urban and suburban markets, including properties such as Aberdeen Business Centre, Barrington Place, Brunswick Place, Kenmount Business Centre and the Zephyr at Davie Street featuring luxury rental units alongside commercial space with a Safeway store, BC Liquor Store and Scotiabank. Founded in 1964 as Atlantic Shopping Centres Limited and converted to its current REIT structure in 2006, the company maintains headquarters in New Glasgow, Nova Scotia, at 610 East River Road, Suite 200, and generates substantial revenue from long-term leases with Empire Company Limited Empire Company Limited, which owns Sobeys Inc. and holds a significant indirect noncontrolling interest in Crombie. As of September 30, 2025, Crombie's portfolio comprises 306 properties totaling approximately 18.8 million square feet inclusive of joint ventures at Crombie's share, supported by a pipeline of development projects across regions from Nova Scotia to British Columbia. In April 2025, Crombie formed joint venture partnerships with Montez Corporation, under which Montez acquired a 50% interest in the under-development 291-unit residential project The Marlstone for $32.2 million and partnered equally on advancing entitlement and design for potential mixed-use developments at Barrington Street and Brunswick Place in Halifax, Nova Scotia, with Crombie retaining full ownership during entitlement, managing the projects and earning development and management fees to enhance cash flow and capital flexibility for core retail investments. On October 30, 2025, Crombie acquired a 100% interest in an additional grocery-anchored retail property, furthering its expansion of necessity-based assets.