News
RioCan Sells 50% Interest In Sunnybrook Plaza Project
May 31, 2017
Courtesy of RioCan
Rendering of Sunnybrook Plaza
RioCan REIT has sold a 50% interest in the soon-to-be-redeveloped Sunnybrook Plaza to Concert Real Estate Corp. for $26.3M.
On the north-east corner of Bayview and Eglinton avenues, Sunnybrook Plaza will take the form of a 16- and 11-storey mixed-use residential project with close to 375K SF, including 43K SF of retail.
RioCan and Concert are considering developing the residential component as rental suites.
RioCan will continue to act as the interim property manager until redevelopment commences. It will also serve as retail property manager on completion. Concert will act as both development manager and property manager for the residential portion.
