NEW GLASGOW, NS, April 11, 2025 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) today announced that it has signed a joint venture agreement with Montez Corporation, a leading integrated multi-asset real estate investor, developer, and asset manager, whereby it will sell 50% of The Marlstone, a mixed-use residential rental project currently under development, in Halifax, Nova Scotia, to Montez (the "Marlstone Joint Venture"). Crombie and Montez have also formed two separate joint venture partnerships to advance two key assets, Barrington Street and Brunswick Place, in Halifax, Nova Scotia (the "Entitlement Partnerships"). The Entitlement Partnerships aim to unlock embedded value from Crombie's mixed-use residential development pipeline while reducing future capital requirements, accelerating value creation, generating revenue from development services, and preserving optionality with respect to development timing and delivery.
Read more at newswire.caCROMBIE REIT FORMS JOINT VENTURE PARTNERSHIPS TO ENHANCE VALUE CREATION IN HALIFAX, NOVA SCOTIA
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