Crombie REIT Announces $103.7 Million of Dispositions

NEW GLASGOW, NS, Jan. 16, 2019 /CNW/ – Crombie Real Estate Investment Trust (“Crombie”) (TSX: CRR.UN) is pleased to announce $103.7 million in dispositions, including $41.6 million for a 50% interest in seven retail properties (the “Portfolio”) to Firm Capital Property Trust (“FCPT”). These transactions are part of Crombie’s previously announced plan to recycle capital from the sale of certain non-core, and/or lower growth assets with proceeds to be invested in Crombie’s value-creating mixed use development pipeline. None of the assets discussed herein are included in Crombie’s mixed use development pipeline. “We are very pleased with our capital recycling activities ...

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