Crombie Real Estate Investment Trust

#3659

Rank

$2.07B

MarketCap CA

CA Canada

Country

Summary
Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high-quality grocery- and pharmacy-anchored shopping centres, freestanding stores and mixed-use developments primarily in Canada's top urban and suburban markets.

History

Crombie REIT was founded on February 4, 1964 as Atlantic Shopping Centres Limited. During the 1990s, the company merged with Halifax Developments Limited , as well as Canadian Shopping Centres Limited. In the mid-2000s, the company was renamed as they expanded beyond both the Atlantic region as well as shopping centres.

It was converted in 2006 into an unincorporated open ended publicly traded real estate investment trust which trades on the Toronto Stock Exchange. Its largest unitholder is Empire Company Limited which as of mid-2013 owned approximately 40% of the units in the REIT. ECL controls the Sobeys supermarket chain which is also the REIT's major tenant.


Mission
Our mission is to provide consistent and stable growth in wealth for unitholders of the REIT and greater economic stability for our employees and community partners.

Vision
Our vision is to be an innovative and trusted leader in real estate investment, providing the best long-term returns to unitholders by creating and maintaining strong portfolio management and providing an exceptional customer experience.

Key Team

Mr. John Thomas Barnoski (Exec. VP of Corp. Devel.)

Mr. Arie Bitton (Exec. VP of Leasing & Operations)

Ms. Jennifer Sieber (VP of Investments)

Ms. Kara Cameron (VP of Accounting & Financial Reporting)

Ms. Ruth Martin C.A., CPA (Director of Investor Relations & Financial Analysis)

Mr. Fred J. Santini (Gen. Counsel)

Elizabeth Engram (Mang. of Marketing & PR)


Recognition and Awards
Crombie has won numerous awards, including the Sustainable Real Estate Award from the International Association of Real Estate Portfolio Management in 2020, the 2019 REB Top Choice Award for best real estate investment trust, and the 2018 Platinum A’Design Award for best real estate design.

References
Crombie Real Estate Investment Trust
Leadership team

Mr. Donald E. Clow F.C.A., FCA, FCPA (Pres, CEO & Trustee)

Mr. Clinton David Keay C.A., CPA, CA, CPA (CFO & Sec.)

Ms. Cheryl Fraser B.Sc. (Chief Talent Officer & VP of Communications)

Products/ Services
Commercial, Real Estate
Number of Employees
100 - 500
Headquarters
New Glasgow, Nova Scotia, Canada
Established
2006
Net Income
100M - 500M
Revenue
100M - 500M
Traded as
CRR-UN.TO
Social Media
Tue Apr 16 2024
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