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REI.UN - RioCan Real Estate Investment Trust News Story

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Sector
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Size
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Market Cap £4.18bn
Enterprise Value £8.11bn
Revenue £656.3m
Position in Universe 97th / 2711

RioCan Real Estate Investment Trust appoints John Ballantyne to Chief Operating Officer

Thu 25th November, 2021 1:00pm
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TORONTO, Nov. 25, 2021 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust
(“RioCan” or the “Trust”) (TSX: REI.UN) is pleased to announce the
appointment of John Ballantyne to the position of Chief Operating Officer
(“COO”), effective January 1, 2022, a promotion from his current role as
Senior Vice President, Asset Management. As RioCan’s COO, Mr. Ballantyne
will assume oversight for Property Operations and Leasing. In addition, he
will continue to lead Asset Management, ESG, and RioCan’s residential
portfolio, RioCan Living™.

“John has proven himself to be a dynamic, trusted leader and brings
extensive experience in successfully leading teams across multiple areas of
our business,” said Jonathan Gitlin, President and Chief Executive Officer
of RioCan. “John has an established reputation as a strategic thinker and a
champion for our people and the communities in which we operate. His deep
understanding of the industry and the organization will further strengthen
RioCan’s operational excellence as we advance our strategy to drive
sustainable growth.”

A long-standing member of RioCan’s senior leadership team, Mr. Ballantyne
has been with RioCan for more than 27 years. He was RioCan’s first Asset
Manager and has been a critical driver of growth and strategic direction over
the Trust’s evolution. As Senior Vice President, Asset Management, Mr.
Ballantyne’s focus has been on optimizing the performance of RioCan’s
multi-billion-dollar portfolio, building a sustainable business model, and
embedding RioCan’s people, community, and environmental considerations into
all decisions.

“It is an honour to assume the role of COO, and I am incredibly proud of
everything the RioCan team has accomplished over my career at the Trust,”
said John Ballantyne. “I look forward to working with the team, leveraging
my industry experience and relationships as we continue to enhance the
strengths of our high-quality portfolio, support responsible growth, and drive
long-term unitholder value.”

About RioCan
RioCan is one of Canada’s largest real estate investment trusts. RioCan
owns, manages and develops retail-focused, increasingly mixed-use properties
located in prime, high-density transit-oriented areas where Canadians want to
shop, live and work. As of September 30, 2021, our portfolio is comprised of
210 properties with an aggregate net leasable area of approximately 36.9
million square feet (at RioCan's interest) including office, residential
rental and 15 development properties. To learn more about us, please visit
www.riocan.com.

Contact Information
RioCan Real Estate Investment Trust
Jonathan Gitlin
President and Chief Executive Officer
416-866-3033 | www.riocan.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/49a6a37a-66f2-498d-be0a-a0325f69b76b)



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