RioCan Real Estate Investment Trust - Montréal, QC

RioCan Real Estate Investment Trust is a publicly traded Canadian REIT (TSX: REI.UN) founded in 1993 by Edward Sonshine as Counsel REIT, making it one of Canada's first real estate investment trusts. The company owns and manages necessity-based retail properties concentrated in Canada's six major urban markets. RioCan's portfolio consists properties across the Greater Toronto Area, Montreal, Vancouver, Calgary, Edmonton, and Ottawa. The REIT employs a retail-first investment strategy anchored by grocery stores, pharmacies, quick-service restaurants, and service-oriented tenants positioned in transit-oriented, high-density urban locations. RioCan has evolved from traditional retail into a mixed-use platform, launching RioCan Living in 2018 to develop purpose-built rental and condominium residential properties integrated with retail centers. The company maintains 98.6% retail occupancy and generates 92% of gross rent from its six major markets, with 58.1% derived from the Greater Toronto Area. RioCan divested its U.S. portfolio to Blackstone in 2015-2016 for C$2.7 billion and has since executed a major market strategy selling approximately $2 billion in non-core secondary market assets to focus capital in Canada's largest metropolitan regions.