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
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