RioCan Real Estate Investment Trust (REI_u.TO) announced plans on Monday for a C$1 billion ($1.01 billion) joint venture to develop outlet malls in Canada with U.S.-based Tanger Factory Outlet Centers (SKT.N). The deal comes as U.S. companies, struggling with a weaker market at home, line up for retail space in Canada, which suffered less in the global recession. Top U.S. brand names are also seeking exposure in Canadian cities. The plan follows a C$1.83 billion deal announced on Jan. 13 by U.S. retailer Target Corp (TGT.N) to take over Canadian leases for Zellers stores owned by Hudson's Bay Co, North America's oldest company. [ID:nN13272785]
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