RioCan Real Estate Investment Trust has entered into a joint venture with an unnamed Canadian pension fund by purchasing a 50% interest in the Millcroft Shopping Center in Burlington, Ontario, for $23 million.RioCan has assumed $13.5 million of mortgage financing on closing, with the balance of the purchase price paid with RioCan's existing cash resources. The REIT will be the asset and property manager for the new JV. RioCan can be found online at http://www.riocan.com.
RioCan Teams Up With Canadian Fund
December 08, 2003, 3:00 p.m. EST 1 Min Read
