TORONTO -- RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that RioCan and the Canada Pension Plan Investment Board have formed a strategic alliance to acquire premier regional power centres in Canada.

The objective of the joint venture will be to acquire regional power centres in Canada on a 50/50 basis. It is the intention that properties acquired in this joint venture will remain core, long-term holdings for both RioCan and CPP Investment Board. In addition, RioCan will provide property management, asset management, leasing, development, and construction management services for the centres acquired with CPP Investment Board.

RioCan is ...