Brief: Crombie REIT Announces New Mixed Use Development Partnerships

Crombie Real Estate Investment Trust

11/04/2018 17:28

April 11 (Reuters) - Crombie Real Estate Investment Trust
 CRR_u.TO :
    * CROMBIE REIT ANNOUNCES TWO NEW MIXED USE DEVELOPMENT
PARTNERSHIPS
    * ENTERED INTO TWO JV PARTNERSHIPS WITH AFFILIATE OF PLACE
DORÉE &
GROUPE CANVAR
    * PARTNERSHIP RESULTS IN CO BECOMING 50% PARTNER IN NEW LE
DUKE
MIXED USE DEVELOPMENT AT 297 RUE DUKE IN MONTREAL
    * DEVELOPMENT OF LE DUKE COMMENCED IN LATE 2017 WITH
COMPLETION
ESTIMATED IN 2020
    * SECOND PARTNERSHIP RESULTS IN PRINCEDEV BECOMING 50%
PARTNER IN
CO'S ESTIMATED $275 MILLION OAKVILLE, BRONTE VILLAGE
    * BRONTE VILLAGE IS EXPECTED TO COMMENCE CONSTRUCTION IN
2018 WITH
COMPLETION ESTIMATED IN 2020.
    * 50 PERCENT PARTNERSHIP IN NEW LE DUKE MIXED USE
DEVELOPMENT
COMPRISING AN ESTIMATED $127 MILLION INVESTMENT

Source text for Eikon:  ID:nCNW5fM2Fa 
Further company coverage:  CRR_u.TO 

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