TORONTO, ONTARIO--(Marketwire - Sept. 19, 2012) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its issuance of an aggregate of 6,925,000 trust units (the "Units") at a price of $27.90 per Unit for aggregate gross proceeds of $193,207,500. The aggregate offering was comprised of the previously announced issuance of 6,275,000 Units at $27.90 per Unit for gross proceeds of $175,072,500, together with the option granted to the underwriters, which was exercised in part, for an issuance of an additional 650,000 Units for $27.90 per Unit for additional gross proceeds of $18,135,000. The underwriting syndicate for the offering was co-led by RBC Capital Markets and TD Securities Inc.

The offering was made under RioCan's base shelf short form prospectus dated June 11, 2012. The terms of the offering are described in a prospectus supplement dated September 12, 2012, which was filed with Canadian securities regulators.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $13.6 billion as at June 30, 2012. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 336 retail properties containing an aggregate of approximately 79.4 million square feet, including 48 grocery anchored and new format retail centres containing 12.3 million square feet in the United States through various joint venture arrangements as at June 30, 2012. RioCan's portfolio also includes 10 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.