RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million square feet. The company properties are located across Canada. The current chief executive officer is Edward Sonshine. RioCan invests primarily in supermarket and junior department store-anchored, neighbourhood, convenience-oriented shopping centres. It owns both enclosed malls and power centres, in a large range of sizes RioCan tries to ensure that no one tenant makes up more than 10% of its rental revenue, in contrast to some other retail REITS (such as Choice Properties REIT) whose revenues are dominated by a single tenant. As of 2017, its largest tenant was Loblaw, with about 5% of rental revenue. As of 2017, 66% of revenue was from Ontario, 15% was from Alberta, 9% was from Quebec, 8% was from British Columbia, and the rest was from the rest of Canada. More information...
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