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Crombie REIT Sells 10 Malls In Ontario And Quebec

Toronto Retail

Crombie REIT has sold 10 properties—nine in Ontario, including Port Colborne Mall, above, and one in Quebec, a total GLA of 791k SF—for $142M. The Nova Scotia-based trust has made several smaller property sales in Atlantic Canada in recent years, totaling $68M. With the latest dispositions (International Gateway Centre in Fort Erie and Rose City Plaza in Welland are among the sites sold), the REIT now owns 251 properties nationwide, primarily grocery and drugstore-anchored shopping centres and freestanding stores. “We continue to evolve our portfolio around Canada's top 36 markets,” says CEO Donald Clow.