Skip to main content

PLEASE NOTE: For everyone’s safety, Fasken recommends anyone on-site at our Canadian offices be familiar with the COVID-19 recommendations in place which may include one or more of the following: social distancing, hand sanitizing, wearing a mask in common areas and proof of full vaccination. These measures apply to lawyers, staff, clients, service providers and other visitors.

Client Work

Crombie REIT acquires 68 retail properties indirectly owned by Safeway, in connection with the Sobeys acquisition of Safeway

Reading Time 1 minute read Subscribe




Crombie Real Estate Investment Trust has acquired a portfolio of 68 retail properties initially acquired by Sobeys Inc. in connection with its $5.8 billion acquisition of Canada Safeway for an aggregate purchase price of $990 million. Crombie’s acquisition of the Properties was partially financed by The Bank of Nova Scotia. All of the Properties are located in Western Canada, with 39.6 % of the Properties’ GLA located in British Columbia, 42.6% in Alberta, 4.8% in Saskatchewan and 13.0% in Manitoba. Fasken Martineau advised Scotiabank with a team including John Torrey, Dave Johnson (Banking & Finance), Sergio Custodio, Andrea Centa, Amanda Demner and Laura Smith (Real Estate).



    Receive email updates from our team