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RioCan Advances the Monetization of its $1 billion RioCan Living Residential Rental Portfolio with $197.3M of Strategic Dispositions
RioCan Real Estate Investment Trust ("RioCan" or the "Trust") (TSX: REI.UN) announced today that ...
About this update from Riocan Real Estate Investment Trust
[{"type":"text","content":"RioCan Advances the Monetization of its $1 billion RioCan Living Residential Rental Portfolio with $197.3M of Strategic Dispositions\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth16 { width: 16% }\n.bwwidth18 { width: 18% }\n.bwwidth21 { width: 21% }\n.bwwidth22 { width: 22% }\n.bwwidth7 { width: 7% }\n \n\n\n\n RioCan Real Estate Investment Trust (\"RioCan\" or the \"Trust\") (TSX: REI.UN) announced today that it has entered into firm agreements to\n \n sell its 50% interest in four RioCan Living residential rental properties\n \n .\n \n Upon closing, the Trust is expected to generate total gross sale proceeds of $197.3 million, inclusive of the Q4 2024 sale of Strada.\n \n Additional proceeds are anticipated from the sale of a Toronto residential rental property, which is in late-stage negotiations. These transactions are expected to close in Q3 2025 with the purchase prices in line with RioCan’s IFRS values. As at Q1 2025, the RioCan Living residential rental portfolio included 13 income producing properties and two properties under development and was valued at approximately $1.0 billion. RioCan is maximizing the value of this portfolio through the sale of individual assets or subsets of the portfolio, and will focus on completing these sales in-line with IFRS values within the next 12 to 24 months.\n \n\n “With RioCan Living, we’ve developed a portfolio of transit-oriented, mixed-use properties in Canada’s major markets. Having achieved its intended scale, we are focused on generating maximum value from this one-of-a-kind portfolio. These strategic dispositions are a significant milestone in the RioCan Living asset monetiza...