NEW GLASGOW, NS, June 2, 2017 /CNW/ - Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) is pleased to announce the appointment of Debra Hess to its Board of Trustees effective immediately.
Ms. Hess most recently served as Chief Financial Officer of Northstar Asset Management Group (NYSE: NSAM) and Northstar Realty Finance Corp (NYSE: NRF) in New York; a position she commenced in 2011 and continued until the NorthStar companies merged with a separate public company in January 2017. During Ms. Hess' tenure at the NorthStar companies, the organization enjoyed a period of significant growth and transformation.
Prior to joining the Northstar companies, Debra held the position of Chief Financial Officer at H/2 Capital Partners and a portfolio company of Fortress Investment Group. Prior to 2003, she held senior positions at Goldman Sachs & Co., and the Chemical Banking Corporation.
"We are extremely pleased to welcome Debra to our Board" commented Crombie Chair Frank Sobey. "Her outstanding credentials, background and finance and real estate industry experience will be invaluable in supporting Crombie's current and future growth aspirations."
With this announcement, Crombie's Board returns to twelve members as Ms. Hess fills the vacancy from the recent retirement of Mr. John Latimer.
Crombie is an open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie currently owns a portfolio of 281 income-producing properties across Canada, comprising approximately 19.1 million square feet with a strategy to own, operate, and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.
SOURCE Crombie REIT
For further information: Glenn Hynes, FCPA, FCA., Executive Vice President, Chief Financial Officer and Secretary, Crombie REIT, (902) 755-8100