Topic: How To Invest

The Successful Investor Hotline – Friday, September 22, 2017

Article Excerpt

RIOCAN REAL ESTATE INVESTMENT TRUST, $23.70, Toronto symbol REI.UN, owns all or part of 299 shopping centres in Canada. That includes 15 properties now under development. In July 2012, RioCan formed a 50/50 joint venture with Allied Properties Real Estate Investment Trust (Toronto symbol AP.UN). Their goal was to purchase buildings in urban areas and “intensify” their revenue and cash flow, mainly by adding tenants. RioCan manages the retail portion of these developments, while Allied handles the office portion. (Note: Allied Properties is a recommendation of Canadian Wealth Advisor, our newsletter that focuses on safe money investments.) One of those projects is the King-Portland Centre in downtown Toronto. The partners announced this week that they will develop the residential portion as condominiums instead of rental units. That’s because the Ontario government has extended rent controls to all apartment buildings, not just those built before 1991. The partners expect to complete this project in the third quarter of 2018. RioCan also announced that it…