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BRIEF-Riocan REIT announces firm agreement at Sunnybrook Plaza with Concert Real Estate Corporation

Published 2017-05-23, 08:19 a/m
© Reuters.  BRIEF-Riocan REIT announces firm agreement at Sunnybrook Plaza with Concert Real Estate Corporation
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May 23 (Reuters) - Riocan Real Estate Investment Trust REI_u.TO :

* Riocan REIT announces firm agreement at Sunnybrook Plaza with Concert Real Estate Corporation

* Riocan Real Estate Investment Trust - announce signing of firm agreement on May 17, 2017, with Riocan selling a 50pct interest in Sunnybrook Plaza at price of $26.3 million

* Riocan Real Estate Investment Trust - partners will share in development costs on a 50/50 basis with transaction set to close in June 2017

* Riocan - Riocan will continue to act as interim property manager until redevelopment commences, and will act as retail property manager on completion

* Riocan Real Estate Investment Trust - concert will act as both development manager and property manager for residential portion of property Source text for Eikon: ID:nMKWQ7hhNa Further company coverage: REI_u.TO

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