RioCan develops, owns, and manages many of Canada’s largest open-air grocery-anchored “power-centres”. Starting about ten years ago, it began developing large condo and apartments buildings, often on its existing retail properties. It’s now selling its rental apartment buildings and will transition out of that business as its remaining condos are completed and sold.
It currently has 167 income producing properties and another 11 under development. Due to higher interest rates, no new development projects have been started since late 2023 and none are currently planned. Its committed occupancy level is very high at 98%.