The portfolio includes several larger-format retail centers, aswell as some neighborhood strip centers, for a total of about onemillion sf. The average age of the portfolio is about 11 years, andthe properties have an average occupancy of about 97.6%, accordingto a RioCan statement. Rags Davloor, SVP and CFO, did not return acall for comment.

The closing of the transaction is expected to take place on June25. The properties include the 138,000-sf 220 Chain Link Dr. inHalifax, Nova Scotia (anchor: Wal-Mart); the 116,147-sf 1160Desserte Ouest in Montreal (Zellers); the 54,950-sf 857 CecileBlvd. in Hawkesbury, Ontario (Price Chopper); the 17,000-sfShoppers Drug Mart in Hawkesbury, the 283,877-sf 720 Maloney Blvd.in Gatineau, Quebec (Wal-Mart); the 127,416-sf 1701 Merivale Rd.,Ottawa, Ontario (Loeb and Best Buy); the 71,930-sf 110 North FrontStreet in Belleville, Ontario (A&P); the 105,955-sf 878 TowerSt. S. in Fergus, Ontario (Zellers); the 90,212-sf 1345 Huron St.in London, Ontario (Shoppers Drug Mart) and the 71,423-sf 448 St.Clair St. in Chatham, Ontario (Food Basics).

The two companies have invested together on similar portfolios."We enjoy a strong and deep relationship with Kimco through ourexisting joint venture portfolio of more than 8.2 million sf," saidEdward Sonshine, president and CEO of RioCan in a statement.