Riocan to buy CPPIB stakes in retail properties for $352 mln
RioCan Real Estate Investment Trust (TSX: REI.UN) has agreed to acquire Canada Pension Plan Investment Board's 50 percent interest in four properties for $352 million. The deal is expected to close this month. The properties, which are currently co-owned, are retail centres located in British Columbia, Alberta and Ontario. RioCan also reported on other recent acquisitions, including a joint buy with Tricon Capital Group of The Shops of Summerhill, a retail asset in Toronto. Announced in June, the deal reflects a purchase price of $42 million.
21 July 2016•6 mins read
