Empire’s business extends beyond food retailing and into investments and other operations. For example, real estate with Crombie REIT and Genstar.
The Investments and other operations segment principally consists of investments, at equity, in Crombie REIT, real estate partnerships and various other corporate operations.
The largest component of Empire’s investments and other operations segment is its 41.5% (41.5% fully diluted) equity accounted interest in Crombie REIT.
Crombie REIT is an Ontario registered, unincorporated, open-ended real estate investment trust. Crombie REIT is one of the country’s leading national retail property landlords with a strategy to own, operate and develop a portfolio of high-quality grocery and pharmacy-anchored shopping centres, freestanding stores and mixed-use developments primarily in Canada’s top urban and suburban markets.
Investments and other operations includes the Company’s equity accounted interests in Genstar.
Genstar is a residential real estate development company headquartered in San Diego, California, with Canadian offices in Western Canada. Genstar focuses on attractive residential land holdings in select growth markets. Empire Company Limited holds equity accounted interests ranging from approximately 37.1% to 49.0% in the Genstar group of companies.
The real estate corporate services of Empire Company Limited are part of many business branches operating under the company name. To learn more, read the history of Empire Company Limited, its operations within the grocery and retail industry, and its strategic direction.