RioCan Real Estate Investment Trust ("RioCan") (TSX: REI.UN) today announced a distribution of 12 cents per unit for the month of August. The distribution will be payable on September 10, 2018 to unitholders of record as at August 31, 2018.

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Allied Properties REIT (TSX:AP.UN) and RioCan REIT (TSX:REI.UN) today announced plans to proceed with full development of the commercial component of The Well. Index Exchange has agreed to lease up to 200,000 square feet of gross leasable area ("GLA") at The Well Tower, 8 Spadina Avenue, an office tower that Allied and RioCan will construct on the northwest corner of Front Street West and Spadina Avenue. Another high-calibre office user has agreed to lease 125,000 square feet of GLA at 460 Front Street West, a separate office component that will form part of The Well. The commitments by the two office users represent 30% of the office GLA at The Well. Allied and RioCan are also finalizing lease transactions with two other office users for 533,752 square feet of office GLA at The Well Tower, which would bring the leased area of the office component of The Well to 80%.