Analysts applaud sale of stake by RioCan

06/27/2008 | Seeking Alpha

The sale of a 50% stake in two development projects for $218 million by RioCan Real Estate Investment Trust was praised by two analysts. Canada's largest REIT sold the stake in developments in Calgary and Toronto to the Canada Pension Plan Investment Board. "We view the transaction favorably strategically as the new joint venture will extend RioCan's relationship with one of Canada's largest pension funds," said Mandy Samols, an analyst with Raymond James.

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