STELLARTON, NOVA SCOTIA--(Marketwire - Nov. 26, 2012) -


Crombie Real Estate Investment Trust ("Crombie") (TSX:CRR.UN) announced today that it has entered into an agreement to sell, to a syndicate of underwriters co-led by CIBC and BMO Capital Markets, on a bought deal basis, approximately $35.5 million of trust units (the "Units") at a price of $14.75 per Unit. Closing is expected to occur on or about December 14, 2012, subject to receipt of the Toronto Stock Exchange and other necessary regulatory approvals. In addition, ECL Developments Limited, a wholly-owned subsidiary of Empire Company Limited, will purchase approximately $24.5 million of Class B LP Units on the same terms in satisfaction of its pre-emptive right with respect to the offering.

The Trust intends to use the net proceeds from the Offering and the concurrent purchase by ECL to reduce outstanding borrowings under the Trust's revolving credit facility and for general trust purposes.

The underwriting syndicate was co-led by CIBC and BMO Capital Markets, and also includes Scotiabank, TD Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Brookfield Financial Corp. and Desjardins Securities Inc.

About Crombie

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 170 commercial properties in nine provinces, comprising approximately 14 million square feet of gross leasable area. More information about Crombie REIT can be found at

This news release may contain forward looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "continue", "may", "will", "estimate", "anticipate", "believe", "expect", "intend" and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Crombie, and include, without limitation, statements regarding the expected use of proceeds of the Offering. Forward looking statements necessarily involve known and unknown risks and uncertainties.

A number of factors, including those discussed in the 2011 annual Management Discussion and Analysis under "Risk Management", could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Crombie will prove to be correct.

Readers are cautioned that such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Crombie can give no assurance that actual results will be consistent with these forward-looking statements.

Additional information relating to Crombie can be found on Crombie's web site at or on the SEDAR web site for Canadian regulatory filings at

Contact Information:

Crombie REIT
Mr. Glenn Hynes, FCA
Chief Financial Officer and Secretary
(902) 755-8100