Crombie REIT renewal growth hits 13.9% in Q3 as occupancy matches record at 97.7%

Crombie REIT reported its third quarter on Nov 4, with the strongest renewal growth it has posted in over five years.

Renewal growth was 13.9% over expiring rates, and 16.7% on a weighted average term rate basis. Committed occupancy was 97.7%, matching its record. Commercial same asset cash NOI rose 2.7%, and FFO per unit was $0.34, up 3.0%.

Crombie is also buying. In a subsequent binding deal, agreed Oct 13 and closing in November 2026, it will acquire 13 necessity based Ontario retail properties, about 588,000 sq ft, for $134M, funded on the revolver.

For retail investors, renewal growth at 13.9% at record occupancy is embedded income growth, and a listed REIT paying $134M for necessity based Ontario retail is a live pricing reference for private plaza owners. Check the gap between in place and market rent before pricing any retail asset in this market.

Source: Crombie REIT Q3 results, reported Nov 4, 2026.