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Crombie Reit Announces $193.3M Portfolio Disposition

by benzinga.com posted 3months ago 44 views
NEW GLASGOW, NS, May 28, 2019 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX:CRR) announces today that it has entered into a second agreement of purchase and sale to sell an 89% non-managing interest in a 15-property portfolio for an aggregate purchase price of approximately $193.3 million ("Partial Disposition" or "Transaction") to an affiliate of Oak Street Real Estate Capital, LLC ("Oak Street"). Crombie will retain an 11% ownership interest and will continue to manage and operate the properties. The Transaction is scheduled to close in the fall of 2019.

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