STELLARTON, NS, April 24 /CNW/ – Crombie REIT announced today that, after a career of more than 30 years in the Canadian real estate industry and more than 20 years with Crombie REIT and its predecessors, J. Stuart Blair has advised of his intention to retire as President and Chief Executive Officer of Crombie.
The Board of Trustees of Crombie has initiated a comprehensive search for a replacement for Mr. Blair as President and CEO of Crombie REIT. Mr. Blair has agreed to remain with Crombie REIT to support a smooth transition until a successor has been appointed.
"During his career as leader of the real estate division of Empire Company Limited and more recently Crombie REIT, Stuart has helped to guide our transition from an Atlantic Canadian real estate business to a successful and well positioned national real estate investment trust" said Frank Sobey, Chairman of Crombie REIT. "All of us at Crombie thank Stuart for his contribution and wish him and his family the very best."
About Crombie Real Estate Investment Trust
Crombie Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The trust invests in income-producing retail, office and mixed-use properties in Canada, with a future growth strategy focused primarily on the acquisition of retail properties. Crombie REIT currently owns a portfolio of 113 commercial properties in seven provinces, comprising approximately 11.2 million square feet of gross leaseable area. More information about Crombie REIT can be found at www.crombiereit.com.
Contact: Scott Ball, C.A., Vice President, Chief Financial Officer and Secretary, Crombie REIT, (902) 755-8100