Empire's real estate business is focused on the ownership of retail and office properties through a 47.0 percent ownership interest in Crombie REIT and residential land development through an ownership interest in Genstar which operates principally in communities in Ontario and Western Canada.
- Our knowledge, experience and management strength in real estate.
- The close working relationship between Sobeys and Crombie REIT optimizes the development of food-anchored shopping plazas across Canada.
- Crombie REIT has the first right to acquire properties from Empire which reduces risk and enhances opportunities for both businesses.
- Through a 40.7 percent interest in Genstar, our residential property operation has attractive land holdings, primarily in Western Canada, and a proven, experienced management team.
Real estate development at empire is focused on establishing both certainty and a healthy pace of growth for Sobeys and Crombie REIT. Our strategy relies firmly on Sobeys' substantial in-house expertise in site selection and property development and Crombie REIT's excellence in property management. At all times, we are guided by criteria that exemplify Empire's investment discipline and tradition of building assets to own for the long term.