TORONTO — RioCan Real Estate Investment Trust's second-quarter profit edged upward even as it dealt with the fall of the Hudson's Bay department store chain.
Toronto-based RioCan reported a net income of 49 cents per unit for the period ended June 30, compared with a profit of 41 cents per unit for the same quarter last year.
The quarter covered a period when RioCan's joint venture with Hudson's Bay entered receivership.
RioCan indirectly holds a 22 per cent interest in 10 properties where the Bay was a tenant.
Over the course of the quarter, RioCan's funds from operations reached 47 cents per diluted unit, up from 43 cents a year ago.
It says 1.3 million square feet were leased in the second quarter, including 1.2 million square feet of renewals.
This report by The Canadian Press was first published Aug. 8, 2025.
Companies in this story: (TSX:REI.UN)
The Canadian Press
