Crombie Real Estate Investment Trust (Crombie REIT) is one of Canada's leading national retail property landlords, headquartered in New Glasgow, Nova Scotia. The trust focuses on the acquisition, development, ownership, and management of high-quality, necessity-based real estate. Its portfolio is predominantly composed of grocery-anchored and pharmacy-anchored retail properties, which are complemented by retail-related industrial facilities and mixed-use residential developments located in Canada's top urban and suburban markets. Crombie's business model is heavily anchored by its strategic partnership with Empire Company Limited, the parent company of the Sobeys grocery chain. Empire is both Crombie's largest unitholder and its largest tenant, accounting for approximately 60% of the trust's Annual Minimum Rent (AMR). Other major tenants include Shoppers Drug Mart and various essential service providers, ensuring a stable and defensive cash flow profile. As of early 2026, Crombie's portfolio encompasses over 300 properties comprising more than 19 million square feet of gross leasable area across Canada. The trust generates revenue primarily through long-term leasing agreements, benefiting from contractual rent step-ups, high occupancy rates, and a robust modernization program that enhances existing grocery-anchored properties. While retail remains its core focus, Crombie has strategically expanded its footprint into the industrial sector, specifically distribution centers that support retail supply chains, and mixed-use residential projects to maximize the value of its urban land holdings. This necessity-based, grocery-anchored strategy provides Crombie with resilient operational performance and consistent long-term value creation for its unitholders.
