RioCan Sells Toronto Rental Tower | Toronto News

RioCan cashed in big, selling its 50% stake in the towering FourFifty rental building in downtown Toronto for $155 million — a move that signals its broader strategy to offload residential assets and refocus on retail. The 46-story, 592-unit building, completed in 2024, is the only purpose-built rental in the massive Well mixed-use development. While Woodbourne Capital now owns the apartments, RioCan retains control of the retail spaces — which are undergoing their own shake-up with new stores opening and others closing. This sale is part of RioCan’s larger plan to unlock value and reinvest in its core retail business, especially in high-traffic Canadian markets — though mixed-use projects still have a place in their portfolio. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0ee59ebf9b8460f6