Empire's real estate investments consist of a 44.6 percent (40.3 percent fully diluted) equity accounted interest in Crombie REIT and an approximately 40 percent ownership interest in Genstar. Crombie owns, manages and operates a diverse portfolio of commercial real estate. Genstar remains focused on residential land development principally in select communities in Ontario, Western Canada and the United States.
- Experienced and knowledgeable management.
- Close working relationship between Sobeys and Crombie REIT optimizes the development of food-anchored shopping plazas.
- Crombie REIT's ownership of a high-quality property portfolio that serves the everyday needs of Canadian consumers.
- Genstar has attractive land holdings in growth markets.
- Enhancement of asset value.
- Expansion of the asset base through accretive acquisitions.
- Sobeys and Crombie REIT management continue to work closely together to facilitate ongoing growth in food-anchored shopping plazas.
- Ongoing development of a property pipeline for the benefit of both Sobeys and Crombie REIT.
- Reinvestment of cash distributions from Crombie REIT and Genstar to support future growth.