RioCan’s Darth Vader CEO Sees Apartments Atop Retail
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Edward Sonshine, chief executive officer of RioCan Real Estate Investment Trust, says he’s known as Darth Vader in the downtown Toronto neighborhood where he battled to put up a Wal-Mart Stores Inc. outlet.
RioCan, Canada’s largest REIT, wants to locate chain stores where people are moving -- into the center of North America’s largest cities. Sonshine plans to build rental apartments on top of his retail empire to capitalize on growing populations in places like Toronto, Calgary and Austin, Texas.