RioCan Real Estate Investment Trust (REIT) 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. Generating cash-flow for our investors is a critical part of our mission. We succeed when you do.
RioCan is one of Canada's largest real estate investment trusts, with a total enterprise value of approximately $13.2 billion as at December 31, 2018. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high density, transit-oriented areas where Canadians want to shop, live and work. Our portfolio is comprised of 233 properties, including 16 development properties, with an aggregate net leasable area of approximately 39 million square feet. We deliver real vision on solid ground.
RioCan's purpose is to deliver to its unitholders stable and reliable cash distributions that will increase over the long term. We seek 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 International Financial Reporting Standards (IFRS) accounting principles.