Riocan Reit (TSE:REI.UN) has released an update.
RioCan REIT showcased a robust first quarter with over 1.33 million square feet of leases completed, indicating a 14% increase in blended leasing spread, driven by high demand for quality retail spaces. The company’s strategic developments have bolstered the portfolio value and attracted resilient tenants, contributing to a net income rise to $128.6 million, a $10.6 million increase compared to the previous year. Financial strength is further evidenced by a modest FFO per unit growth and a solid balance sheet, positioning RioCan well for future performance.
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