RioCan Real Estate Investment Trust is an unincorporated "closed-end" trust governed by the laws of the Province of Ontario and constituted pursuant to a Declaration of Trust. RioCan is publicly traded and is listed on the Toronto Stock Exchange under the symbol REI.UN.
RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately $16 billion as at March 31, 2015. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 353 retail properties, including 15 under development, containing more than 79 million square feet including 48 grocery anchored and new format retail centres containing 13 million square feet in the United States at March 31, 2015.
RioCan's purpose is to deliver to its unitholders stable and reliable cash distributions that will increase over the long term. It seeks to do so by following a strategy of owning, developing, managing and operating Canadian retail real estate. RioCan's management, in measuring the Trust's performance, does not distinguish or group its operations on a geographical or any other basis. Accordingly, the Trust has a single reportable segment for disclosure purposes in accordance with Canadian generally accepted accounting principles.