Original News Release
Crombie REIT Announces Third Quarter 2025 Results
New Glasgow, Nova Scotia--(Newsfile Corp. - November 5, 2025) - Crombie Real Estate Investment Trust (TSX: CRR.UN) ("Crombie") today announced results for its third quarter ended September 30, 2025. Management will host a conference call to discuss the results at 10:00 a.m. (EST), November 6, 2025.
"Our third-quarter results demonstrate the continued strength of Crombie's high-quality, coast-to-coast portfolio, purpose-built to deliver steady cash flow growth and long-term sustainable value," said Mark Holly, President and CEO. "During the quarter, we delivered same-asset cash NOI growth of 4.6% and achieved another period of record committed occupancy at 97.5% - a testament to the resilience of our portfolio and our teams' execution. Over the first nine months of the year, Crombie generated 3.5% same-asset cash NOI growth alongside FFO and AFFO per Unit growth of 4.3% and 7.5%, reinforcing the consistency of our performance and the durability of our strategy."
THIRD QUARTER SUMMARY
(In thousands of Canadian dollars, except per Unit amounts and square feet and as otherwise noted)
Information in this press release is a select summary of results. This press release should be read in conjunction with Crombie's Management's Discussion and Analysis for the quarter ended September 30, 2025 and Consolidated Financial Statements and Notes for the quarters ended September 30, 2025, and September 30, 2024. Full details on our results can be found at www.crombie.ca and www.sedarplus.ca.
Operational Highlights
Committed occupancy of 97.5% and economic occupancy of 97.2%; a 140 basis point increase and a 130 basis point increase, respectively, compared to the third quarter of 2024
Renewals of 92,000 square feet at rents 10.6% above expiring rental rates
An increase of 13.5% for the three months ended September 30, 2025 using the weighted average rent during the renewal term
Invested $14,932 in modernizations during the quarter
Published annual Environmental, Social & Governance ("ESG") Report
Announced the increase in distributions to $0.90 per Unit per year effective for Unitholders of record on August 31, 2025
Financial Highlights
Three months ended September 30,
2025
2024
Variance
%
Property revenue $ 120,084
$ 114,460
$ 5,624
4.9 %
Revenue from management and development services $ 4,428
$ 1,083
$ 3,345
308.9 %
Operating income attributable to Unitholders $ 30,817
$ 26,570
$ 4,247
16.0 %
Funds from operations ("FFO") (1) per Unit - basic and diluted $ 0.33
$ 0.31
$ 0.02
6.5 %
Adjusted funds from operations ("AFFO") (1) per Unit - basic and diluted $ 0.30
$ 0.27
$ 0.03
11.1 %
Same-asset property cash net operating income ("NOI") (1) $ 83,329
$ 79,670
$ 3,659
4.6 %
Available Liquidity $ 676,106
$ 676,649
$ (543 )
(0.1) %
Debt to gross fair value (1) (2)
41.9 %
42.9 %
(1.0) %
Debt to trailing 12 months adjusted EBITDA (1) (2)
7.70x
7.72x
-0.02x
(0.3) %
(1) Non-GAAP financial measures used by management to evaluate Crombie's business performance. See "Cautionary Statements and Non-GAAP Measures" below for a reconciliation of FFO, AFFO, same-asset property cash NOI, debt to gross fair value, and debt to trailing 12 months adjusted EBITDA.
(2) At Crombie's proportionate share including joint ventures.
Operational Metrics
September 30, 2025
September 30, 2024
Number of investment properties (1)
297
296
Gross leasable area (2)
18,198,000
18,766,000
Economic occupancy (3)
97.2 %
95.9 %
Committed occupancy (4)
97.5 %
96.1 %
Total properties inclusive of joint ventures and residential property (5)
306
305
Gross leasable area inclusive of joint ventures and residential property
18,815,000
19,297,000
(1) This includes properties owned at full and partial interests, excluding joint ventures, wholly owned residential, and properties under development.
(2) Gross leasable area is adjusted to reflect Crombie's proportionate interest in partially owned properties, excluding joint ventures and a wholly owned residential asset.
(3) Represents space currently under lease contract and rent has commenced.
(4) Represents current economic occupancy plus completed lease contracts for future occupancy of currently vacant space.
(5) Inclusive of properties under development.
Committed occupancy of 97.5% included 60,000 square feet of space committed at September 30, 2025. VECTOM and Major Markets represent 31,000 square feet of committed space. The increase in committed occupancy compared to September 30, 2024 was primarily due to new leasing activity.
New commercial leases increased occupancy by 209,000 square feet at September 30, 2025, at an average first-year rate of $16.68 per square foot.
Renewal activity for the third quarter of 2025 consisted of 92,000 square feet with an increase of 10.6% over expiring rental rates. The primary driver of renewal growth in the quarter was 91,000 square feet of retail renewals with an increase of 10.6% over expiring rental rates.
When comparing the expiring rental rates to the weighted average rental rate for the renewal term, Crombie achieved an increase of 13.5% for the three months ended September 30, 2025.
Financial Metrics
Three months ended September 30,
Nine months ended September 30,
2025
2024
Variance
%
2025
2024
Variance
%
Net property income (1) $ 79,474
$ 75,006
$ 4,468
6.0 %
$ 237,961
$ 223,535
$ 14,426
6.5 %
Operating income attributable to Unitholders $ 30,817
$ 26,570
$ 4,247
16.0 %
$ 91,244
$ 82,122
$ 9,122
11.1 %
Same-asset property cash NOI (1) $ 83,329
$ 79,670
$ 3,659
4.6 %
$ 245,543
$ 237,142
$ 8,401
3.5 %
FFO (1) $ 61,945
$ 56,170
$ 5,775
10.3 %
$ 179,512
$ 168,918
$ 10,594
6.3 %
Per Unit - Basic and diluted $ 0.33
$ 0.31
$ 0.02
6.5 %
$ 0.97
$ 0.93
$ 0.04
4.3 %
Payout ratio (1)
67.3 %
72.5 %
(5.2) %
69.0 %
72.0 %
(3.0) %
AFFO (1) $ 54,966
$ 48,742
$ 6,224
12.8 %
$ 158,703
$ 146,006
$ 12,697
8.7 %
Per Unit - Basic and diluted $ 0.30
$ 0.27
$ 0.03
11.1 %
$ 0.86
$ 0.80
$ 0.06
7.5 %
Payout ratio (1)
75.8 %
83.6 %
(7.8) %
78.1 %
83.4 %
(5.3) %
(1) Net property income, same-asset property cash NOI, FFO, FFO payout ratio, AFFO, and AFFO payout ratio are non-GAAP financial measures used by management to evaluate Crombie's business performance. See "Cautionary Statements and Non-GAAP Measures" below for a reconciliation of net property income, same-asset property cash NOI, FFO, FFO payout ratio, AFFO, and AFFO payout ratio.
Third Quarter and Year-to-Date 2025 Results
Operating income attributable to Unitholders
The increase in operating income in the third quarter of 2025 was primarily due to higher net property income from the acquisition of the remaining 50% interest in the Davie Street residential property in the fourth quarter of 2024, and property revenue growth from renewals and new leasing. Growth in revenue from management and development services further contributed to the increase. This was offset in part by higher interest expense from the 2024 net issuance of senior unsecured notes, and increased depreciation and amortization as a result of acquisitions.
In addition to the items discussed above for the quarter, the year-to-date increase was further driven by increased supplemental rent from modernization investments, lease termination income from disposed properties, and property revenue growth from recently completed developments. Additionally, gain on derecognition of a right-of-use asset and impairment of investment properties in 2024 further contributed to the increase. This was partially offset by increased tenant incentive amortization from modernizations, decreased property revenue from dispositions, accelerated depreciation on properties scheduled for redevelopment, and higher general and administrative expenses related to filling vacant roles and increased Unit-based compensation costs primarily driven by a higher Unit price.
Same-asset property cash NOI
The increase in same-asset property cash NOI for the quarter was primarily due to renewals, contractual rent step-ups, and new leasing.
The year-to-date increase was driven by the items discussed above for the quarter as well as increased supplemental rent from modernization investments.
FFO
The increase in FFO in the quarter was primarily due to higher net property income from the 2024 Davie Street residential acquisition, property revenue growth as discussed above, and increased revenue from management and development services. This was offset in part by higher interest expense from the 2024 net issuance of senior unsecured notes.
In addition to the items discussed above for the quarter, the year-to-date increase was further driven by increased supplemental rent from modernization investments, lease termination income from disposed properties, and property revenue growth from recently completed developments. This was partially offset by decreased property revenue from dispositions and an increase in general and administrative expenses related to filling vacant roles and increased Unit-based compensation costs primarily driven by higher Unit price.
AFFO
The increase in AFFO was primarily due to the same factors impacting FFO for both the quarter and year to date.
Financial Condition Metrics
September 30, 2025
December 31, 2024
September 30, 2024
Fair value of unencumbered investment properties $ 3,881,000
$ 3,662,000
$ 2,651,000
Available liquidity (1) $ 676,106
$ 682,218
$ 676,649
Debt to gross book value - cost basis (2)
45.6 %
45.7 %
45.2 %
Debt to gross fair value (3) (4)
41.9 %
43.6 %
42.9 %
Weighted average interest rate
4.1 %
4.1 %
4.2 %
Debt to trailing 12 months adjusted EBITDA (3) (4)
7.70x
7.96x
7.72x
Interest coverage ratio (3) (4)
3.46x
3.31x
3.31x
(1) Represents the undrawn portion on the credit facilities, excluding joint facilities with joint operation partners.
(2) See Capital Management note in the Financial Statements.
(3) Non-GAAP financial measures used by management to evaluate Crombie's business performance. See "Cautionary Statements and Non-GAAP Measures" below for a reconciliation of debt to gross fair value, debt to trailing 12 months adjusted EBITDA, and interest coverage ratio.
(4) See Debt Metrics section in the Management's Discussion and Analysis.
Portfolio Optimization
Our development program is divided into major development projects with a total estimated cost greater than $50,000, and non-major development projects with a total estimate cost below $50,000.
Major Development
Crombie currently has one active major development, held within a joint venture, The Marlstone, a 291-unit residential rental project in Halifax, Nova Scotia, under construction. Demolition and existing building upgrades have occurred and construction continues to progress. Completion is expected in the first half of 2026.
Non-major Development
Non-major developments are shorter in duration and thus carry less overall risk as compared to Crombie's major development pipeline. These projects have the ability to create value while enhancing the overall quality of the portfolio.
In the third quarter of 2025, Crombie invested $14,932 in its modernization program.
The below table summarizes active non-major developments within Crombie's portfolio at September 30, 2025.
At Crombie's Share
Type Project Count Estimated GLA
on Completion
Estimated Total Cost
Estimated Cost to Complete (2)
Land-use intensification, redevelopments and other 4 87,000 $ 43,136
$ 18,862
Modernizations (1) 50 —
24,018
—
Total non-major developments 54 87,000 $ 67,154
$ 18,862
(1) Modernizations are capital investments to modernize/renovate Crombie-owned grocery-anchored properties in exchange for a defined return and potential extended lease term. The spend on completed modernizations for the three and nine months ended September 30, 2025 was $14,932 and $24,018, respectively (three and nine months ended September 30, 2024 - $4,719 and $31,156, respectively).
(2) Estimated cost to complete reflects approved projects currently in progress. It does not include potential future projects for which approvals have not yet been obtained.
Highlighted Subsequent Events
Acquisition Activity
On October 30, 2025, Crombie acquired a 100% interest in a grocery-anchored retail property located in Etobicoke, Ontario from a subsidiary of Empire totalling 51,000 square feet for total consideration of $28,472, excluding closing and transaction costs, of which $4,660 was due on closing and $23,812 was incurred as predevelopment costs.
Conference Call and Webcast
Crombie will provide additional details regarding its third quarter ended September 30, 2025 results on a conference call to be held Thursday, November 6, 2025, beginning at 10:00 a.m. (EST). Accompanying the conference call will be a presentation that will be available on the Investors section of Crombie's website. To join this conference call, you may dial (646) 307-1963 or (800) 715-9871. To join the conference call without operator assistance, you may register and enter your details at https://registrations.events/easyconnect/3377788/recpoH9ccxztPd8Qe/ to receive an instant automated call back. You may also listen to a live audio webcast of the conference call by visiting the Investors section of Crombie's website at www.crombie.ca.
Replay will be available until midnight November 13, 2025 by dialing (800) 770-2030 and entering passcode 3377788#, or on the Crombie website for 90 days following the conference call.
Non-GAAP Measures and Cautionary Statements
Net property income, same-asset property cash NOI, FFO, AFFO, FFO payout ratio, AFFO payout ratio, debt to trailing 12 months adjusted EBITDA, debt to gross fair value, and interest coverage ratio are non-GAAP financial measures that do not have a standardized meaning under International Financial Reporting Standards ("IFRS"). These measures as computed by Crombie may differ from similar computations as reported by other entities and, accordingly, may not be comparable to other such entities. Management includes these measures as they represent key performance indicators to management, and it believes certain investors use these measures as a means of assessing Crombie's financial performance. For additional information on these non-GAAP measures see our Management's Discussion and Analysis for the three and nine months ended September 30, 2025.
The reconciliations for each non-GAAP measure included in this press release are outlined as follows:
Net Property Income
Management uses net property income as a measure of performance of properties period over period.
Net property income is as follows:
Three months ended September 30,
Nine months ended September 30,
2025
2024
Variance
2025
2024
Variance
Property revenue $ 120,084
$ 114,460
$ 5,624
$ 366,593
$ 349,430
$ 17,163
Property operating expenses
(40,610 )
(39,454 )
(1,156 )
(128,632 )
(125,895 )
(2,737 )
Net property income $ 79,474
$ 75,006
$ 4,468
$ 237,961
$ 223,535
$ 14,426
Same-Asset Property Cash NOI
Crombie measures certain performance and operating metrics on a same-asset basis to evaluate the period-over-period performance of those properties owned and operated by Crombie. "Same-asset" refers to those properties that were owned and operated by Crombie for the current and comparative reporting periods. Properties that will be undergoing a redevelopment in a future period and those for which planning activities are underway are also in this category until such development activities commence and/or tenant leasing/renewal activity is suspended. Same-asset property cash NOI reflects Crombie's proportionate ownership of jointly operated properties (and excludes any properties held in joint ventures).
Management uses net property income on a cash basis (property cash NOI) as a measure of performance, as it reflects the cash generated by properties period over period.
Net property income on a cash basis, which excludes non-cash straight-line rent recognition and amortization of tenant incentive amounts, is as follows:
Three months ended September 30,
Nine months ended September 30,
2025
2024
Variance
2025
2024
Variance
Net property income $ 79,474
$ 75,006
$ 4,468
$ 237,961
$ 223,535
$ 14,426
Non-cash straight-line rent
(986 )
(1,271 )
285
(2,845 )
(4,163 )
1,318
Non-cash tenant incentive amortization (1)
8,153
7,663
490
23,593
21,502
2,091
Property cash NOI
86,641
81,398
5,243
258,709
240,874
17,835
Acquisitions and dispositions property cash NOI
2,634
429
2,205
10,999
676
10,323
Development property cash NOI
678
1,299
(621 )
2,167
3,056
(889 )
Acquisitions, dispositions, and development property cash NOI
3,312
1,728
1,584
13,166
3,732
9,434
Same-asset property cash NOI $ 83,329
$ 79,670
$ 3,659
$ 245,543
$ 237,142
$ 8,401
(1) Refer to "Amortization of Tenant Incentives" in the Management's Discussion and Analysis for a breakdown of tenant incentive amortization.
FFO
Crombie follows the recommendations of the Real Property Association of Canada ("REALPAC") publication "REALPAC Funds From Operations (FFO) & Adjusted Funds From Operations (AFFO) for IFRS (January 2022)" in calculating FFO and has applied these recommendations to the FFO amounts included in this press release.
The reconciliation of FFO for the three and nine months ended September 30, 2025 and 2024 is as follows:
Three months ended September 30,
Nine months ended September 30,
2025
2024
Variance
2025
2024
Variance
Decrease in net assets attributable to Unitholders $ (11,306 ) $ (17,671 ) $ 6,365
$ (35,331 ) $ (41,897 ) $ 6,566
Add (deduct):
Amortization of tenant incentives
8,153
7,663
490
23,593
21,502
2,091
Net (gain) loss on disposal of investment properties
100
—
100
(3,089 )
(2,163 )
(926 )
Gain on derecognition of right-of-use-asset
—
—
—
(1,770 )
—
(1,770 )
Impairment of investment properties
—
—
—
—
2,000
(2,000 )
Depreciation and amortization of investment properties
21,254
19,995
1,259
64,598
59,228
5,370
Adjustments for equity-accounted investments
867
1,212
(345 )
2,599
3,707
(1,108 )
Principal payments on right-of-use assets
27
61
(34 )
149
180
(31 )
Internal leasing costs
727
669
58
2,188
2,342
(154 )
Distributions to Unitholders
41,669
40,735
934
123,926
121,698
2,228
Change in fair value of financial instruments (1)
454
3,506
(3,052 )
2,649
2,321
328
FFO $ 61,945
$ 56,170
$ 5,775
$ 179,512
$ 168,918
$ 10,594
Weighted average Units - basic and diluted (in 000's)
185,775
182,958
2,817
185,084
182,201
2,883
FFO per Unit - basic and diluted $ 0.33
$ 0.31
$ 0.02
$ 0.97
$ 0.93
$ 0.04
FFO payout ratio (%)
67.3 %
72.5 %
(5.2) %
69.0 %
72.0 %
(3.0) %
(1) Includes the fair value changes of Crombie's deferred unit plan and fair value changes of financial instruments which do not qualify for hedge accounting.
AFFO
Crombie follows the recommendations of the "REALPAC Funds From Operations (FFO) & Adjusted Funds From Operations (AFFO) for IFRS (January 2022)" in calculating AFFO and has applied these recommendations to the AFFO amounts included in this press release.
The reconciliation of AFFO for the three and nine months ended September 30, 2025 and 2024 is as follows:
Three months ended September 30,
Nine months ended September 30,
2025
2024
Variance
2025
2024
Variance
FFO $ 61,945
$ 56,170
$ 5,775
$ 179,512
$ 168,918
$ 10,594
Add (deduct):
Straight-line rent adjustment
(986 )
(1,271 )
285
(2,845 )
(4,163 )
1,318
Straight-line rent adjustment included in loss from equity-accounted investments
(17 )
40
(57 )
(21 )
155
(176 )
Internal leasing costs
(727 )
(669 )
(58 )
(2,188 )
(2,342 )
154
Maintenance expenditures on a square footage basis
(5,249 )
(5,528 )
279
(15,755 )
(16,562 )
807
AFFO $ 54,966
$ 48,742
$ 6,224
$ 158,703
$ 146,006
$ 12,697
Weighted average Units - basic and diluted (in 000's)
185,775
182,958
2,817
185,084
182,201
2,883
AFFO per Unit - basic and diluted $ 0.30
$ 0.27
$ 0.03
$ 0.86
$ 0.80
$ 0.06
AFFO payout ratio (%)
75.8 %
83.6 %
(7.8) %
78.1 %
83.4 %
(5.3) %
Debt Metrics
Debt to gross fair value is a non-GAAP measure and may not be comparable to that used by other entities.
The fair value included in this calculation reflects the fair value of the properties as at September 30, 2025, December 31, 2024, and September 30, 2024, respectively, based on each property's current use as a revenue-generating investment property. Additionally, as properties are prepared for redevelopment, Crombie considers each property's progress through entitlement in determining the fair value of a property.
September 30, 2025
December 31, 2024
September 30, 2024
Fixed rate mortgages $ 809,859
$ 827,930
$ 767,572
Senior unsecured notes
1,500,000
1,500,000
1,375,000
Unsecured non-revolving credit facility
50,000
50,000
—
Construction financing facility
—
13,447
1,207
Unsecured revolving credit facility
—
—
4,643
Joint operation credit facility
3,570
3,520
3,520
Bilateral credit facility
6,000
—
43,500
Debt held in joint ventures, at Crombie's share (1) (2)
237,128
185,991
275,555
Lease liabilities
27,091
33,937
35,651
Adjusted debt $ 2,633,648
$ 2,614,825
$ 2,506,648
Investment properties, fair value $ 5,827,000
$ 5,604,000
$ 5,272,000
Investment properties held in joint ventures, fair value, at Crombie's share (2)
318,000
285,000
428,000
Other assets, cost (3)
110,141
82,296
100,222
Other assets, cost, held in joint ventures, at Crombie's share (2) (3) (4)
7,573
5,755
26,381
Cash and cash equivalents
4,791
10,021
—
Cash and cash equivalents held in joint ventures, at Crombie's share (2)
3,068
3,434
4,279
Deferred financing charges
9,688
11,669
7,937
Gross fair value $ 6,280,261
$ 6,002,175
$ 5,838,819
Debt to gross fair value
41.9 %
43.6 %
42.9 %
(1) Includes Crombie's share of fixed rate mortgages, floating rate construction loans, floating rate revolving credit facilities, and lease liabilities held in joint ventures.
(2) See the "Joint Ventures" section in the Management's Discussion and Analysis.
(3) Excludes tenant incentives, accumulated amortization, and accrued straight-line rent receivable.
(4) Includes deferred financing charges.
The following table presents a reconciliation of operating income attributable to Unitholders to adjusted EBITDA. Adjusted EBITDA is a non-GAAP measure and should not be considered an alternative to operating income attributable to Unitholders, and may not be comparable to that used by other entities.
Three months ended
September 30, 2025
December 31, 2024
September 30, 2024
Operating income attributable to Unitholders $ 30,817
$ 76,143
$ 26,570
Amortization of tenant incentives
8,153
7,725
7,663
Loss (gain) on disposal of investment properties
100
996
—
Gain on acquisition of control of joint venture
—
(51,794 )
—
Gain on derecognition of right-of-use asset
—
(405 )
—
Impairment of investment properties
—
3,100
—
Depreciation and amortization
21,627
21,196
20,359
Finance costs - operations
24,360
25,401
22,677
Loss from equity-accounted investments
518
130
469
Property revenue in joint ventures, at Crombie's share
3,695
3,797
5,325
Amortization of tenant incentives in joint ventures, at Crombie's share
77
78
79
Property operating expenses in joint ventures, at Crombie's share
(1,438 )
(1,199 )
(1,815 )
General and administrative expenses in joint ventures, at Crombie's share
12
(43 )
(110 )
Taxes - current
—
4
—
Adjusted EBITDA [1] $ 87,921
$ 85,129
$ 81,217
Trailing 12 months adjusted EBITDA [3] $ 342,249
$ 328,558
$ 324,680
Finance costs - operations $ 24,360
$ 25,401
$ 22,677
Finance costs - operations in joint ventures, at Crombie's share
1,997
1,922
2,726
Amortization of deferred financing charges
(720 )
(1,433 )
(558 )
Amortization of deferred financing charges in joint ventures, at Crombie's
share
(206 )
(210 )
(277 )
Adjusted interest expense [2] $ 25,431
$ 25,680
$ 24,568
Debt outstanding (see Debt to Gross Fair Value) (1) [4] $ 2,633,648
$ 2,614,825
$ 2,506,648
Interest coverage ratio {[1]/[2]}
3.46x
3.31x
3.31x
Debt to trailing 12 months adjusted EBITDA {[4]/[3]}
7.70x
7.96x
7.72x
(1) Includes debt held in joint ventures, at Crombie's share.
This press release contains forward-looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects, and opportunities. Wherever possible, words such as "may", "will", "estimate", "anticipate", "believe", "expect", "intend", "plan", "continue", and similar expressions have been used to identify these forward-looking statements. These statements reflect current beliefs and are based on information currently available to management of Crombie. Forward-looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2024 annual Management's Discussion and Analysis under "Risk Management" and the Annual Information Form for the year ended December 31, 2024 under "Risks", could cause actual results, performance, achievements, prospects, or opportunities to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and a reader should not place undue reliance on the forward-looking statements. There can be no assurance that the expectations of management of Crombie will prove to be correct, and Crombie can give no assurance that actual results will be consistent with these forward-looking statements.
Specifically, this document includes, but is not limited to, forward-looking statements regarding expected timing, cost, and completion of entitlement and development, which may be impacted by ordinary real estate market cycles, the availability of labour, ability to attract tenants, estimated GLA, tenant rents, building sizes, financing and the cost of any such financing, capital resource allocation decisions and general economic conditions, as well as entitlement and development activities undertaken by related parties not under the direct control of Crombie, Crombie's ability to earn recurring development and management fees, and its ability to make decisions that maximize Unitholder value.
About Crombie REIT
Crombie invests in real estate with a vision of enriching communities together by building spaces and value today that leave a positive impact on tomorrow. As one of the country's leading owners, operators, and developers of quality real estate assets, Crombie's portfolio primarily includes grocery-anchored retail, retail-related industrial, and mixed-use residential properties. As at September 30, 2025, our portfolio contained 306 properties comprising approximately 18.8 million square feet, inclusive of joint ventures at Crombie's share, and a significant pipeline of future development projects. Learn more at www.crombie.ca.
Media Contacts
Kara Cameron, CPA, CA, Chief Financial Officer, Crombie REIT, (902) 755-8100
Meghna Nair, Manager, Investor Relations, Crombie REIT, (905) 301-3746
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273296
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