Staff
The Canada Pension Plan Investment Board will sell its interest in four institutional properties it co-owns with RioCan Real Estate Investment Trust to RioCan.
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RioCan will purchase CPPIB’s 50 per cent interest in all four properties for $352 million.
The properties are Grandview Corners in Surrey, B.C.; RioCan Meadows in Edmonton; RioCan Beacon Hill in Calgary; and RioCan Centre Burloak in Oakville, Ont.
The deal is expected to close by the end of July 2016.
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