Crombie Real Estate ate (TSE:CRR.UN) has released an update.
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Crombie Real Estate Investment Trust has announced the purchase of the remaining 50% stake in Zephyr Residential, becoming the sole owner of the high-quality mixed-use asset in downtown Vancouver. The $133 million acquisition, to be completed in October 2024, is expected to enhance Crombie’s portfolio by providing immediate cash flow and potential for future growth. The property features two residential towers with a high occupancy rate and is anchored by necessity-based retailers, including a Safeway grocery store.
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