Crombie REIT
 | |
| Type | Public, REIT |
|---|---|
| Traded as | TSX: CRR.UN |
| Industry | real eastate investment trust |
| Founded | February 4, 1964 [1] |
| Headquarters | Stellarton, Nova Scotia |
| Parent | Empire Company Limited (Sobeys) |
| Website | www.crombiereit.com |
Crombie REIT (formerly Atlantic Shopping Centres, then Crombie Properties) is a Canadian unincorporated open ended publicly traded real estate investment trust which trades on the Toronto Stock Exchange and is based in Stellarton, Nova Scotia.
History
Crombie REIT was founded on February 4, 1964 as Atlantic Shopping Centres Limited. In 1976, it became a subsidiary of Sobeys Stores Limited. During the 1990s, the company merged with Halifax Developments Limited (known for Scotia Square), 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 into an unincorporated open ended publicly traded real estate investment trust which trades on the TSX in 2006. Its largest unitholder is Empire Company Limited ("ECL") which currently owns (July,2013) approximately 40% of the units in the REIT. ECL also controls the Sobeys supermarket chain which is also the REIT's major tenant.