RioCan, Allied and Diamond Complete Second Acquisition in Toronto's Downtown West

RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN), Allied Properties
Real Estate Investment Trust ("Allied") (TSX:AP.UN) and Diamond Corp.
("Diamond") have completed the acquisition of 410 Front Street West in Toronto
(the "Property"), with each of RioCan and Allied having an undivided 40%
interest and Diamond having an undivided 20% interest. The Property is comprised
of approximately 1.2 acres of land on the northwest corner of Front and Spadina.
It is adjacent to the 6.47 acres of land acquired late last year by RioCan,
Allied and Diamond on the same proportionate basis. Together these two parcels,
which comprise approximately 7.7 acres, represent one of the largest
underdeveloped pieces of land in Toronto's downtown core. 


About RioCan 

RioCan is Canada's largest real estate investment trust with a total
capitalization of approximately $14.3 billion as at December 31, 2012. It owns
and manages Canada's largest portfolio of shopping centres with ownership
interests in a portfolio of 346 retail properties containing more than 82
million square feet, including 52 grocery anchored and new format retail centres
containing 13.6 million square feet in the United States through various joint
venture arrangements as at December 31, 2012. RioCan's portfolio also includes
11 properties under development in Canada. For further information, please refer
to RioCan's website at www.riocan.com. 


About Allied 

Allied is a leading owner, manager and developer of urban office environments
that enrich experience and enhance profitability for business tenants operating
in Canada's major cities. Its objectives are to provide stable and growing cash
distributions to unitholders and to maximize unitholder value through effective
management and accretive portfolio growth. For further information, please refer
to Allied's website at www.alliedreit.com. 


About Diamond 

Diamond, a Toronto-based land development company maintains a strong commitment
to developing high-quality, innovative and award-winning residential and mixed
use projects. Diamond Corp has established itself as a leader in progressive
city building in the Greater Toronto Area. As managers of the Whitecastle New
Urban Fund and the more recently launched Whitecastle New Urban Fund 2, Diamond
Corp is committed to the future of Canada's urban communities. For further
information, please refer to Diamond Corp's website at www.diamondcorp.ca. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
RioCan
Edward Sonshine O.Ont., Q.C.
Chief Executive Officer
[phone]
www.riocan.com


Allied Properties
Michael Emory
President and CEO
[phone]
[e-mail]
www.alliedreit.com