TSX:REI.UN - Post by User
Comment by
mavion Jun 02, 2002 4:23pm
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Post# 5170272
RE: CORRECTION- 1 SIGNIFICANT SHOPPING CENTRE
RE: CORRECTION- 1 SIGNIFICANT SHOPPING CENTREI get the feeling that RioCan's expansion in the next year or two will only be in conjunction with Kimco.
Quote fron the NR
"RioCan, the country's largest real estate investment trust, plans to spend up to $1-billion in acquisitions this year and is now courting up to 20 new American retailers, the company's chief executive told unitholders at its annual meeting yesterday."
Perhaps these retailers will be more likely to make the move to the Canadian market if they are dealing with a known landlord, Kimco. If they come, and I bet they will, they could be looking for stores in many of the malls after the trial store works out.
I would further venture that instead of a takeover, the RioCan-Kimco expansion will continue until they are as big as the current RioCan, then merge without the takeover buyout price war.
As to oversupply, maybe they will only expand as fast as the new clients need more space.