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

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 Livingtm.

"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.