STELLARTON, Nova Scotia — Empire Cos., the parent of the Sobeys chain here, said Monday that it had reached an agreement to sell 61 properties to Crombie REIT, a real estate investment trust 48.1% owned by Empire. The $428.5 million deal is expected to generate net proceeds of $280 million to be used to repay Empire and Sobeys debt, Empire said. The properties being sold include 40 freestanding grocery stores and 21 shopping centers totaling 3.3 million square feet. Sobeys has agreed to ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.