TORONTO – RioCan Real Estate Investment Trust says it earned $96.9 million in its third quarter, up from a loss of $73.5 million a year earlier.
The company says its revenue totalled $286.3 million, up from $271.4 million during the same quarter last year.
President and CEO Jonathan Gitlin says the company is capitalizing on a favourable environment for retail real estate.
He says RioCan continues to “strategically evolve” its tenant roster in favour of income stability and growth.
The company says as of Monday, almost 86 per cent of units in the residential rental portion of its new flagship Toronto property The Well were leased.
It says foot traffic at The Well continues to surpass expectations, and 97 per cent of its commercial space is leased.
This report by The Canadian Press was first published Nov. 11, 2024.
Companies in this story: (TSX:REI.UN)
