May 12 (Reuters) - Crombie Real Estate Investment Trust
CRR_u.TO
* Crombie REIT announces $418 million portfolio transaction
and public offering of $131.6 million subscription receipts
* $324.6 million cash portion to be funded through public
offering of $131.6 million of subscription receipts, revolving
term credit facility
* Transaction will be funded through payment of
approximately $324.6 million in cash and empire or its
subsidiaries
* To purchase 2 parcels of development land, to invest in
renovation and expansion of 10 properties anchored by Sobeys
* Properties, DCs, and land acquired from wholly-owned
subsidiaries of Empire Company limited for approximately $360
million
* Says deal immediately accretive to REIT's adjusted funds
from operations
* To purchase portfolio of 19 retail properties, 50%
interest in three distribution centres
* Including modernizations investment of approximately $58
million, transaction totals approximately $418 million
Source text for Eikon: ID:nCCN7QsWWN
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