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Crombie REIT Announces Third Quarter 2019 Results

Third QuarterA Summary
(In thousands of CAD dollars, except per unit amounts and as otherwise noted)

Operating income of $30,049



Property revenue of $97,346



Same-asset property cash NOI growth of 3.3%



Debt to gross book value - fair value basis improved to 48.9%



Renewals of 627,000 square feet at rents 4.7% above expiring rates



Strong committed occupancy at 96.1%



Gross proceeds on dispositions of $49,559



Issuance of $200,000 of 7 Year 3.677% Series F Notes

NEWA GLASGOW,A NS, Nov. 6, 2019 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) today announced results for its third quarter ended September 30, 2019. Management will host a conference call to discuss the results at 9:00 a.m. (EST), November 7, 2019. "Our solid operating fundamentals, improving balance sheet and innovative asset management are enabling our strategic focus to create value from our relationship with Sobeys/Empire and execution of our significant major developments" said Don Clow, President & CEO. "We are relentless in our efforts to accelerate the growth of our AFFO and NAV and are very pleased to see our first major developments coming online and beginning to produce high quality cash flow and recognized NAV." Full details on our results can be found at www.crombiereit.com and www.sedar.com.A 
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