RioCan Real Estate Investment Trust Announces June 2025 Distribution
RioCan Real Estate Investment Trust ('RioCan') (TSX: REI.UN) today announced a distribution of 9.65 cents per unit for the month of June. The distribution will be payable on July 8, 2025, to unitholders of record as at June 30, 2025.
About RioCan
RioCan is one of Canada's largest real estate investment trusts. RioCan owns, manages and develops retail-focused, mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at March 31, 2025, our portfolio is comprised of 177 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan's interest). To learn more about us, please visit www.riocan.com.
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Real estate sale signage is shown on a street in Oakville, Ont., west of Toronto, on Thursday, Nov.7, 2024. (Richard Buchan / The Canadian Press) A B.C. Realtor who lost a court case against a former client earlier this year has now had his licence cancelled by the provincial real estate regulator. Alan Hu and his Personal Real Estate Corporation recently entered a consent order agreement with the B.C. Financial Services Authority, in which they agreed to pay a $120,000 fine and have their licences cancelled. The penalties stem from the same incident that led to a court decision against Hu in January, in which B.C. Supreme Court Justice Amy D. Francis found Hu had 'intentionally undermined' his client Pei Hua Zhong by purchasing for himself the Surrey home that Zhong had made an offer to buy. Francis' decision in the case describes Hu's conduct as 'deceptive and underhanded' – a description that is repeated in the consent order document published on the BCFSA website Friday. 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Regulator-imposed consequences The BCFSA consent order details these same circumstances, albeit with the names of the other parties and the address of the property redacted. According to the document, Hu's client (Zhong) learned that Hu was the owner of the property when he performed a title search in September 2021. Zhong filed his civil lawsuit in January 2022. In April of that year, he submitted a complaint to the BCFSA, the consent order indicates. The document notes that Hu made false statements to BCFSA investigators about his agreement with Tao and falsely claimed that he had offered Zhong the opportunity to take the assignment of the contract to buy the 174 Street property. He later admitted during the trial that he had never told Zhong about the assignment. Hu also failed to notify the BCFSA when the B.C. Supreme Court judgment against him was issued earlier this year, according to the consent order. In the agreement, Hu admits to a lengthy list of conduct unbecoming of a licensee and professional misconduct, including: Failing to act honestly in providing real estate services Failing to disclose 'all known material information' to a client Failing to maintain the client's confidentiality Failing to act in the best interests of the client Failing to take reasonable steps to avoid a conflict of interest Failing to promptly and fully disclose a conflict of interest to a client Providing trading services outside of the brokerage with which he and his PREC were licensed Collecting funds in relation to the purchase of a property without promptly remitting the money to his brokerage Failing to keep the brokerage's managing broker informed of the assignment contract Failing to promptly notify the BCFSA of the court judgment Failing or refusing to co-operate with an investigation And making false or misleading statements in relation to an investigation Hu and his company admitted this misconduct and agreed to the cancellation of their licences. They are jointly required to pay the $120,000 fine within six months of signing the consent order agreement. 'Real estate licensees have an enshrined duty to act in the best interests of their client, and Hu's actions ran wholly contrary to that duty,' said Jon Vandall, the BCFSA's senior vice-president of compliance and enforcement, in a news release issued Friday. 'Hu undermined his own client for personal gain and demonstrated a clear disregard for the established ethical expectations for licensees. The significant penalty issued to Hu, including the outright cancellation of his real estate licence, reflects the severity of Hu's actions.'
