RioCan Caps Acquisition Of Toronto's Sheppard Centre

Law360, New York (December 5, 2011, 12:36 PM EST) -- Real estate investment trust RioCan and Canadian private equity firm KingSett Capital have completed their CA$218 million (US$215 million) purchase of Toronto's Sheppard Centre from the Standard Life Assurance Co. of Canada, RioCan said Monday.

RioCan, which borrowed $67.5 million to fund its portion of the deal, is set to manage the 673,000-square-foot urban retail and residential center on both the leasing and redevelopment fronts, it said.

"Beyond the current retail and office uses, this property also has the potential for additional intensification through retail expansion...
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