RioCan Real Estate Investment Trust

RioCan Real Estate Investment Trust

January 04, 2005 09:40 ET

RioCan Real Estate Investment Trust Announces Completion Of Public Offering Of Trust Units


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RIOCAN REAL ESTATE INVESTMENT TRUST

TSX SYMBOL: REI.UN

JANUARY 4, 2005 - 09:40 ET

RioCan Real Estate Investment Trust Announces
Completion Of Public Offering Of Trust Units

TORONTO, ONTARIO--(CCNMatthews - Jan. 4, 2005) - MEDIA RELEASE IS NOT
FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

RioCan Real Estate Investment Trust (TSX:REI.UN) ("RioCan") today
announced that it has successfully completed its previously announced
issue of 7,500,000 units from treasury at a price of $17.45 per unit. In
addition, the syndicate of underwriters, co-led by RBC Dominion
Securities Inc. and CIBC World Markets Inc., has fully exercised its
over-allotment option such that RioCan has issued 8,250,000 units for
aggregate gross proceeds of $143,962,500. The net proceeds will be used
for RioCan's ongoing acquisition and development programs and for
general trust purposes.

About RioCan REIT

RioCan's purpose is to deliver to its unitholders stable and reliable
cash distributions, which continuously increase over time. RioCan is
Canada's largest real estate investment trust with total assets of
approximately $4 billion. It has ownership interests in a portfolio of
183 retail properties across Canada containing an aggregate of
approximately 44 million square feet, including partners' and shadow
anchors' interests.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RioCan Real Estate Investment Trust
    Robert Wolf
    Vice President & CFO
    (416) 866-3198
    Website: www.riocan.com