RioCan Real Estate Investment Trust reports a $96.9M Q3 profit, reversing last year's loss.

RioCan Real Estate Investment Trust reported a third-quarter profit of $96.9 million, reversing a loss of $73.5 million from the same period last year. Revenue increased to $286.3 million from $271.4 million. CEO Jonathan Gitlin credits the improvement to a positive retail environment and strategic tenant management. RioCan’s Toronto property, The Well, has nearly 86% of its residential units and 97% of its commercial space leased, with foot traffic exceeding expectations.

November 11, 2024
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