RioCan Group Said to Buy Toronto Real Estate for Development

  • Venture with Tricon, Diamond said to plan rental tower, retail
  • Partners said to pay C$85 million for Woodcliffe properties

RioCan Real Estate Investment Trust, Canada’s largest REIT by market value, is teaming up with Tricon Capital Group Inc. and Diamond Corp. to develop a combined retail and residential project in Toronto’s midtown core, according to people familiar with the deal.

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