07:35:47 EST Sun 08 Feb 2026
Enter Symbol
or Name
USA
CA



RioCan Real Estate Investment Trust
Symbol REI
Shares Issued 294,467,759
Close 2025-10-27 C$ 19.53
Market Cap C$ 5,750,955,333
Recent Sedar+ Documents

Globe says RioCan threatens Yorkdale's upmarket vibe

2025-10-27 09:11 ET - In the News

The Globe and Mail reports in its Monday edition that two of the country's largest real estate owners are in a showdown over the future of the former Bay store in an upscale Toronto mall, the latest in a series of landlord-tenant disputes triggered by the Hudson's Bay bankruptcy. The Globe's Andrew Willis and Susan Krashinsky write that RioCan REIT is using hardball tactics at the Yorkdale Shopping Centre in an attempt to get mall owner Oxford Properties Group to buy out its lease on a shuttered Bay outlet for at least $75-million. If Oxford refuses the buyout offer, as it has done to date, RioCan is threatening to rent the space to downmarket fashion store Les Ailes de la Mode for a relatively modest $1-million annually, court filings show. The bulk of Yorkdale's tenants are high-end outlets such as Holt Renfrew, Prada and Tiffany. Retailer Isaac Benitah owns Les Ailes as part of his Fairweather chain. Filings show that if RioCan successfully exits its 135-year lease at Yorkdale, Mr. Benitah's company will receive a portion of the payment from Oxford. RioCan has a $75-million mortgage with Royal Bank of Canada backed by its lease on the former Bay outlet. The company pays $3.5-million a year in interest on the debt.

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