RioCan reports $120 million loss in third quarter on writedowns

RioCan signage is shown at a strip mall in Mississauga, Ont., Saturday, Oct.24, 2020. RioCan is one of Canada's largest real estate investment trusts. THE CANADIAN PRESS/Richard Buchan

TORONTO - RioCan Real Estate Investment Trust reported a net loss in its latest quarter as it wrote down the value of some investments along with its joint venture with HBC.

The trust said it lost $120.3 million for the quarter ending Sept. 30, compared with a profit of $96.9 million in the same quarter a year earlier.

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