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Canada's Largest REIT Coming to U.S.


Canada's largest REIT RioCan REIT is expanding to the U.S. in a $1.5 billion joint venture with Ramco-Gershenson Properties Trust.

The joint venture will acquire and develop a retail properties throughout the U.S. Ramco-Gershenson will initially seed the joint venture with centers from its existing portfolio with a total worth of about $450 million.

RioCan will retain a 70 percent stake in the joint venture to Ramco-Gershenson's 30 percent. For more on this story, check our Retail Traffic Online newsletter later this afternoon.

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Update: Our story.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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