STELLARTON, NS, March 20, 2014 /CNW/ - Donald Clow, FCA, President and CEO of
Crombie REIT, today announced changes to its leadership team due to the REIT's
growth over the last three years including its recent acquisition of 70
Safeway properties in Western Canada from Sobeys Inc., which propelled Crombie
into a national retail landlord with 249 properties at total value nearing $4
billion. The leadership changes are as follows:
Glenn Hynes, FCA, currently Chief Financial Officer (CFO) and Secretary,
becomes Executive Vice President, CFO and Secretary.
Patrick Martin, MBA, formerly Regional Vice President Atlantic Canada, becomes
Executive Vice President, Operations. Pat will have executive responsibility
for operations nationally across Canada. Reporting to Pat are Scott MacLean,
Regional Vice President, Atlantic Canada, Gary Finkelstein, Regional Vice
President, Central Canada, and Trevor Lee, in the newly created role of
Regional Vice President, Western Canada.
Clow commented "This is an exciting time in Crombie's growth and these
appointments are an important factor in our future success as a growing
national company focused on owning and operating primarily food and drug store
anchored retail properties in Canada's Top 36 markets".
Crombie Real Estate Investment Trust ("Crombie") is an open-ended real estate
investment trust established under, and governed by, the laws of the Province
of Ontario. Crombie currently owns a portfolio of 249 retail and office
properties across Canada, comprising approximately 17.6 million square feet
with a strategy to own and operate a portfolio of high quality grocery and
drug store anchored shopping centres and freestanding stores in Canada's top
36 markets. More information about Crombie can be found at www.crombiereit.com.
This news release may contain 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 "continue", "may", "will", "estimate", "anticipate", "believe",
"expect", "intend" 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.
Readers are cautioned that such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from these statements. Crombie can give no assurance that actual
results will be consistent with these forward-looking statements. A number of
factors, including those discussed in the Management Discussion and Analysis
for the year ended December 31, 2013 under "Risk Management", 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
Additional information relating to Crombie can be found on Crombie's web site
at www.crombiereit.com or on the SEDAR web site for Canadian regulatory
filings at www.sedar.com.
SOURCE Crombie REIT
Mr. Glenn Hynes, FCA Executive Vice President, Chief Financial Officer and
Secretary Crombie REIT (902) 755-8100
To view this news release in HTML formatting, please use the following URL:
CO: Crombie REIT
ST: Nova Scotia
NI: 2575 WNEWS
-0- Mar/20/2014 16:50 GMT
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