TORONTO, ONTARIO--(Marketwired - July 9, 2013) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it is donating $25,000 to The Calgary Foundation Flood Rebuilding Fund to assist with flood relief efforts in Alberta.
"Our thoughts are with the people of Alberta who have been affected by the recent floods", said Edward Sonshine, Chief Executive Officer of RioCan, "RioCan owns 28 shopping centres in Alberta with about half of this portfolio located in the Calgary area, and while we were fortunate to be largely unaffected by the recent flooding, we felt it imperative that we give back to the local community to help them recover from this disaster as quickly as possible."
RioCan's Alberta portfolio contains approximately 4.2 million square feet, at its interest as of March 31, 2013, with 2.2 million square feet of that space located in the Calgary area. RioCan is also in various stages of development in an additional four properties located in the Calgary area that when complete are expected to add in excess of three million square feet of retail space to the Calgary market.
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.4 billion as at March 31, 2013. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 344 retail properties containing more than 84 million square feet, including 50 grocery anchored and new format retail centres containing 13.7 million square feet in the United States through various joint venture arrangements as at March 31, 2013. RioCan's portfolio also includes 11 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.