Finance Institutional Investment
RioCan, Trinity to Sell Interests in Two Developments to CPP Investment Board
June 26, 2008

RioCan Real Estate Investment Trust, Trinity Development Group Inc. and CPP Investment Board have announced that they have entered into a firm agreement for RioCan and Trinity to sell a 50 percent non-managing interest in two developments to CPPIB. The transaction is expected to close by June 30, 2008. The two developments are Jacksonport located in Calgary, Alberta and St. Clair Avenue and Weston Road located in Toronto, Ontario. The total development cost of the two projects is expected to aggregate approximately $440 million. Under the agreement, RioCan and Trinity will each retain a 25 percent ownership interest in the two developments.

 
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