COVID by some means made a hot actual estate market hotter, whereas making digital instruments like 360 cameras indispensable. iBuyers halted buying properties, only to relaunch into an IPO for Online News Action Opendoor and Zillow right into a brokerage. And there have been fairly just a few acquisitions like Lone Wolf shopping for Cloud Suite, Housing Wire acquiring Real Developments, or, most notably, CoStar’s noisy entrance into residential real estate,
RioCan is certainly one of Canada’s largest real estate funding trusts. RioCan owns, manages and develops retail-centered, increasingly combined-use properties located in prime, excessive-density transit-oriented areas the place Canadians need to shop, live and work. As at June 30, 2022, our portfolio is comprised of 202 properties with an aggregate internet leasable area of roughly 35.9 million square ft (at RioCan’s curiosity) together with workplace, residential rental and 12 development properties. To learn extra about us, please go to www.riocan.com.
Stephane Amine, President of the REIT stated, ‘Administration is creating plans for a multi-use redevelopment of this 335,000 sq. foot asset. Its strategic location, 5 minutes away from Paris southern ring highway and the deliberate focus on LEED certification will elevate this asset to the category of prime assets which are so enormously in demand in central Paris. Management is exploring strategic financing structures just like that used for the 2016 – 2018 Rueil redevelopment challenge that offered a 20% return to Unitholders. We are very excited about this welcome opportunity.’
