// REFERENCED ON THE SHOW
Crombie Real Estate Investment Trust
A publicly traded Canadian real estate investment trust (TSX: CRR.UN) that owns, operates, and develops a national portfolio of grocery- and drug-store-anchored retail, industrial, and mixed-use residential properties. It is the largest owner of Sobeys/Empire-anchored real estate in Canada and acts as developer, construction, leasing, and asset manager on its own projects.
📍 New Glasgow, Nova Scotia, CanadaEst. 2006✓ 100% first-party verified
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// ON THE RECORD WITH
See the full ecosystem ▸// SELECTED PROJECTS
The Marlstone
In progressOwner / developer / construction, leasing and asset manager (50/50 JV with Montez Corporation)
19-storey, 291-unit, ~188,000 sq ft rental building with a direct indoor connection to the Scotia Square complex. Crombie's official development page states construction is underway and 'expected to be complete in the first half of 2026'; Q1 2026 results (May 2026) indicate construction nearing completion with initial occupancy commenced. Marked in_progress pending confirmed full completion.
Avalon Mall redevelopment
CompletedOwner / developer · ~CAD $112 million
Multi-phase capital program launched 2017: four-level (~875-space) parking structure, access realignment, interior/exterior renovation, and demolition of the former Sears space for new mid-box retail; ~593,000 sq ft GLA, the largest regional shopping centre in the province. Grand re-opening June 2021. The ~$112M figure is from RENX (primary trade press) and Crombie's own press release; the development page does not restate the dollar value.
Montez joint-venture partnerships (Halifax)
In progressCo-owner; development, construction, leasing and asset manager · CAD $32.2 million (Marlstone 50% interest)
Announced April 11, 2025. Montez Corporation acquired a 50% interest in the 291-unit Marlstone ($32.2M: $19.2M cash to Crombie plus assumption of $13.0M construction debt) and entered equal-cost entitlement/design JVs on the Barrington Street and Brunswick Place sites, which remain wholly owned by Crombie during the entitlement phase. Distributed via CNW/Newswire (primary press release wire).
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// NOTABLE
Crombie REIT traces to Atlantic Shopping Centres Limited, incorporated February 4, 1964, as a subsidiary of Sobeys Stores Limited; in 2006 it was renamed Crombie REIT and completed its initial public offering (TSX: CRR.UN). Empire Company Limited remains a major unitholder.
SOURCE ▸Crombie's portfolio is national in scale: roughly 300+ income-producing properties and ~18.9 million sq ft (as of December 31, 2025), with an enterprise value in the multi-billion-dollar range.
SOURCE ▸On February 22, 2023, Crombie announced Mark Holly as President & CEO effective March 1, 2023, succeeding Don Clow, who retired after 13.5 years; Holly joined from Empire Company, where he led the real estate business.
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