Firm Capital Property Trust (TSXV:FCD.UN) agreed to acquire Seven Retail Properties Located in Alberta, Nova Scotia, Saskatchewan, Ontario and Quebec from Crombie Real Estate Investment Trust (TSX:CRR.UN) for CAD 41.6 million.

Firm Capital Property Trust (TSXV:FCD.UN) agreed to acquire a 50% interest in Seven Retail Properties Located in Alberta, Nova Scotia, Saskatchewan, Ontario and Quebec from Crombie Real Estate Investment Trust (TSX:CRR.UN) for CAD 41.6 million on January 14, 2019. Crombie REIT will continue to own the remaining 50% interest in the portfolio. The transaction is being financed through a combination of existing cash resources (including the Trust's credit facility) and new and existing mortgages.

The transaction is expected to close during first quarter of 2019. The transaction will be immediately accretive. Raymond James Limited acted financial advisor for Crombie Real Estate.