Name

Crombie REIT

Legal name

Crombie REIT

Website

https://crombie.ca

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust (Commercial Real Estate)

NAICS

Real Estate and Rental and Leasing (53), Rental and Leasing Services (532)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Commercial Real Estate Asset Management (BPAJAMAB)

Keywords

• Real estate investment trust
• Grocery-anchored retail
• Commercial property leasing
• Mixed-use development
• Retail industrial logistics

Headquarters

HQ city

New Glasgow

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Property Leasing: Crombie generates the majority of its revenue through long-term leases with tenants across grocery-anchored retail, retail-related industrial, office, and mixed-use properties. Base rent is supplemented by percentage rent and operating cost recoveries. Tenants include national grocery chains (Sobeys, Safeway, IGA, FreshCo), national retailers (Canadian Tire, Winners, Sport Chek), and regional/local tenants.
2. Property Acquisitions and Asset Growth: Crombie grows its revenue base through strategic acquisitions of income-generating properties. In Q1 2026, the REIT acquired two retail-related industrial properties in Whitby, Ontario and Saint-Hubert, Quebec for $129.8 million, contributing to property revenue growth from renewals, new leasing, and acquisitions.
3. Development and Mixed-Use Projects: Crombie develops mixed-use residential and commercial properties for long-term income generation. Completed projects include The Zephyr at Davie Street (Vancouver), The Marlstone (Halifax), Belmont Market (Langford, BC), Le Duke (Montreal), and The Village at Bronte Harbour (Oakville), adding rental income streams from residential and commercial components.
4. REIT Distributions to Unitholders: As a REIT, Crombie distributes the majority of its taxable income to unitholders. The annual distribution was increased to $0.91 per unit for 2026 ($0.075 per month), up from $0.90 per unit, reflecting growth in FFO and AFFO per unit.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Crombie REIT owns, operates and develops a diversified Canadian commercial real estate portfolio of approximately 310 properties (19.4 million square feet) across grocery-anchored retail, retail-related industrial (including Ocado-powered e-commerce fulfillment centers), mixed-use residential and office properties. The REIT generates recurring rental income by leasing space to enterprise tenants — led by Sobeys, Safeway, IGA, FreshCo, Canadian Tire, Shoppers Drug Mart, Scotiabank, CIBC and Cineplex — and develops new mixed-use and industrial assets in partnership with Empire/Sobeys and other developers.

Product overview

Crombie REIT operates as a diversified real estate investment trust with a portfolio of 310 properties comprising approximately 19.4 million square feet across Canada. The company's product offerings consist of three core property types: grocery-anchored retail properties (anchored by tenants including Safeway, Sobeys, IGA, and Thrifty Foods), retail-related industrial properties (including e-commerce fulfillment centers powered by Ocado technology), and mixed-use residential properties. Additionally, Crombie maintains an active development pipeline of 26 projects representing significant growth potential. The portfolio is anchored by a strategic partnership with Empire Company Limited and its Sobeys subsidiary, enabling co-location of grocery and retail operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Grocery-Anchored Retail Properties Long-term grocery-anchored retail space leased to enterprise tenants including Sobeys, Safeway, IGA, FreshCo, Thrifty Foods, Shoppers Drug Mart, Canadian Tire, Winners and Sport Chek across Canada.
• Retail-Related Industrial Properties E-commerce grocery fulfillment centers and retail-related industrial/logistics facilities leased long-term to Empire/Sobeys and powered by Ocado technology for online grocery distribution.
• Mixed-Use Residential Properties Mixed-use developments combining residential rental units with ground-floor retail and commercial space in major Canadian urban centres, often co-developed with Prince Developments and Westbank.
• Office Properties Multi-tenant office buildings in Halifax, Nova Scotia and Moncton, New Brunswick, leased to government, healthcare, professional services and commercial tenants.
• The Zephyr at Davie Street 330-unit mixed-use development in Vancouver's West End featuring luxury rentals with ground-floor retail anchored by Safeway, BC Liquor Store and Scotiabank; LEED Gold Equivalent.
• Le Duke 387-unit 25-storey residential tower in Montreal with heritage preservation and 26,000 sq ft commercial space anchored by IGA; joint venture with Prince Developments.
• The Village at Bronte Harbour 481-unit luxury rental community in Oakville, Ontario with 30,000 sq ft Farm Boy anchor and ancillary commercial; partnership with Prince Developments.
• The Marlstone 291-unit purpose-built rental building in downtown Halifax, LEED Gold Standard, Rick Hansen Foundation certified, with direct indoor connection to Scotia Square; expected completion first half of 2026.
• Voilà CFC 2 Customer fulfillment center on a 20.25-acre e-commerce site in Montreal, powered by Ocado technology, serving as Empire/Sobeys' online grocery distribution hub for Quebec and Ottawa.
• Voilà CFC 3 300,000 sq ft retail-related industrial e-commerce fulfillment center in Calgary, Alberta, powered by Ocado technology for Empire/Sobeys online grocery distribution.
• Belmont Market Grocery-anchored mixed-use centre in Langford, BC, 135,000 sq ft including a 53,000 sq ft Thrifty Foods anchor.
• Avalon Mall Newfoundland and Labrador's largest regional shopping centre at 48 Kenmount Road, St. John's, with 593,000+ sq ft GLA, 140 retailers including Cineplex and Shoppers Drug Mart; BOMA BEST Gold certified.
• Broadway & Commercial Development Mixed-use transit-oriented development with 981 residential units and a public plaza in Vancouver's Grandview Woodland neighbourhood; partnership with Westbank.

Quantifiable outcome

• 97.7% committed occupancy — record high as of Q4 2025
• +6 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered major and core.

• WestbankmajorStrategic or Co-development Partner · 1 January 2021Crombie partnered with Westbank to develop the Broadway & Commercial mixed-use project in Vancouver's Grandview Woodland neighbourhood. Westbank is a major Vancouver-based real estate developer, and this joint venture involves a significant mixed-use, transit-oriented development with residential units, a new Safeway grocery store, and a public plaza.
• Ocada Group / Ocada plcmajorTechnology or Integration · 1 January 2020Crombie developed retail-related industrial e-commerce fulfillment centers (Voilà CFC 2 in Montreal and Voilà CFC 3 in Calgary) powered by Ocada's industry-leading technology. These serve as Empire/Sobeys' online grocery distribution hubs. Crombie owns and developed the real estate, while Ocada provides the proprietary robotics and software technology for the fulfillment operations.
• Prince DevelopmentsmajorStrategic or Co-development Partner · 1 January 2019Crombie has partnered with Prince Developments on several mixed-use residential projects: The Village at Bronte Harbour in Oakville (481 rental units + Farm Boy anchor) and Le Duke in Montreal (25-storey, 387-unit residential tower with IGA commercial). Prince Developments serves as the development partner, with Crombie as the property owner.
• Empire Company Limited / SobeyscoreStrategic or Co-development Partner · 1 January 2006Crombie REIT maintains a long-standing strategic partnership with Empire Company Limited, parent of Sobeys. Empire/Sobeys serves as the primary grocery anchor tenant across Crombie's portfolio, and the two companies collaborate on development projects including e-commerce fulfillment centers (Voilà CFC 2 and CFC 3), mixed-use developments, and the broader portfolio strategy. The relationship dates to the founding of the REIT in 2006 and is described as a strategic partnership strengthening both organizations.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• RioCan REIT: RioCan is Canada's largest retail REIT with a grocery-anchored, necessity-based portfolio and an active mixed-use intensification pipeline. Highly comparable in property type, tenant strategy, and urban redevelopment focus.
• CT REIT: CT REIT owns Canadian Tire-anchored retail properties across Canada with a focused single-tenant/single-anchor structure. Comparable as a retail REIT with long-duration triple-net lease income, though with a different anchor tenant.
• Primaris REIT: Primaris is a Canadian REIT focused on enclosed shopping centres with strong anchor tenants — comparable in retail property focus and Canadian operating geography, though with a different centre format.
• Choice Properties REIT: Choice Properties is a Canadian REIT focused on grocery-anchored retail and mixed-use properties, anchored by Loblaw Companies banners — the closest analog to Crombie's Empire/Sobeys-anchored model in business structure, tenant mix, and development strategy.
• First Capital REIT: First Capital owns grocery-anchored, mixed-use, and necessity-based urban properties in Canada. Comparable in property mix and urban intensification strategy, though with a more office and mixed-use tilt.
• SmartCentres REIT: SmartCentres operates a portfolio of Walmart-anchored retail centers across Canada with growing mixed-use residential and self-storage segments — comparable grocery/necessity retail anchor model and mixed-use development pipeline.

Broad incumbents

• Morguard REIT: Morguard is a diversified Canadian REIT spanning retail, office, and industrial. Comparable in Canadian multi-format exposure and mixed-use strategy, though broader and not specialized in grocery-anchored retail.
• Allied Properties REIT: Allied is a major Canadian REIT focused on office and workspace in urban markets — overlaps on the office portion of Crombie's portfolio and the urban Canadian real estate theme, but not a direct competitor in retail/industrial.

Emerging players

• Boardwalk REIT: Boardwalk is one of Canada's largest residential REITs — comparable to Crombie's growing multifamily/mixed-use residential segment, though Boardwalk is pure residential and does not operate retail or industrial.
• CAPREIT (Canadian Apartment Properties REIT): CAPREIT is a major Canadian residential REIT with a national multifamily portfolio — comparable to Crombie's mixed-use residential rental developments, though CAPREIT is a pure-play residential operator without retail/industrial exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CrombieREIT

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Crombie REIT