RioCan’s Remarkable 30 Years as a Publicly Traded REIT Leader
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When the Toronto Stock Exchange opened on January 19th, it marked RioCan Real Estate Investment Trust’s (REIT) 30th year as a publicly traded company under the symbol REI.UN.
Founded in 1993 by Ed Sonshine, RioCan formally became one of Canada’s longest-established REIT in 1994. John Ballantyne RioCan’s Chief Operating Officer since 1994 has seen the company grow from 11 properties with a million square feet total to 340 properties totalling 54 million square feet.
As of September 30th, 2023, RioCan had a total enterprise value of approximately $12.7 billion.
Here is to 30 more years as a publicly traded REIT!
References
Riocan REIT Marks 30 years as public company - remi network. REMINET. (2024, January 19). https://www.reminetwork.com/articles/riocan-reit-marks-30-years-as-public-company/
McLean, S. (2024, January 18). Riocan marks 30 years as a publicly traded REIT. RENX. https://renx.ca/riocan-marks-30-years-as-a-publicly-traded-reit
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