RioCan REIT reaches 132million deal with Target regarding leases

TORONTO — RioCan Real Estate Investment Trust has reached a deal with Target Corp. regarding leases the retailer disclaimed as part of its retreat from the Canadian market.The real estate trust says Target has paid $132 million, including $92 million which belongs to RioCan, under the agreement.In return, RioCan and its partners have released Target from its obligations.RioCan says the settlement cash will be used to mitigate losses caused by Target Canada’s departure.Investors rights at most REITs not up to standards, governance group warnsTarget Corp’s hasty retreat still haunting Canadian REITs nine months laterWhen Target Canada announced it would close all of its Canadian stores, RioCan had 26 locations that were under lease to the retailer.Seven locations were assigned to new tenants, while RioCan has been working to fill the remaining 19 properties representing some two million square feet.The trust has been splitting up many of the former Target stores into smaller units and leasing those locations to new tenants.RioCan said it has signed 14 leases totalling approximately 448,000 square feet and two conditional offers to lease space totalling 50,000 square feet.In addition, the trust said it is advanced talks for another 16 leases. read more

Husband of mother who died after Csection birth says he blames himself

first_imgHe added: “I would have done anything for her. I would happily change it – I would do anything to change what has happened, absolutely anything.” The husband of a young mother who died just hours after she gave birth to her second son has said he continues to place blame on himself.Frances Cappuccini’s death was a result of “failures, inadequate diagnosis and treatment” at the hospital caring for her, a coroner said earlier this year.The 30-year-old died at Tunbridge Wells Hospital in Pembury, Kent, shortly after giving birth to her son, Giacomo, by Caesearean section. Reflecting on being told his wife had died, Mr Cappuccini told the programme: “It was devastating. It completely ripped me apart. I think my first reaction – I nearly passed out. I think I fell on the floor. I think that is what happened initially.”The 10-day inquest at Gravesend Old Town Hall in Kent earlier this year heard that Mrs Cappuccini lost more than two litres (around four pints) of blood after the C-section. Frances Cappuccini was a school teacherCredit:INS Frances Cappuccini on her wedding day Frances Cappuccini Mrs Cappuccini, a school teacher, suffered heavy bleeding and was anaesthetised, but went into cardiac arrest and died at 4.20pm on October 9 2012.In an interview with Channel 4 News, her husband Tom Cappuccini said: “I placed a lot of blame – I still do – a lot of blame on myself for not being more forceful, more aggressive with the midwives when I first got there and insisting more that we had the C-section.”So to then imagine her waking up and being unable to breathe by herself and being conscious at the time for me – oh my God – I can’t even put into words how that made me feel.”So to have them at the inquest tell me there is no way she could have woken up has just taken so much off my shoulders.”center_img Frances Cappuccini on her wedding dayCredit:SWNS  Frances Cappuccini Frances Cappuccini had an emergency C-sectionCredit:PA  Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. She was subsequently operated on for a postpartum haemorrhage but never woke up from the anaesthetic.The inquest criticised the care given to her, including a piece of placenta that was left in her womb.Mr Cappuccini said: “I didn’t sleep for weeks. I didn’t sleep for weeks before and I didn’t sleep for weeks after. I’ve never been so emotionally and physically drained at that point.”There was a lot of pressure on myself and on the whole family in fact, my parents, my in-laws, we’re all in the same boat, but I just had to keep going because this wasn’t about me.”This was about Frankie. It was about getting justice for her.”In a statement given to Channel 4 News, Maidstone and Tunbridge Wells NHS Trust said: “We have acknowledges that Frances’ death was avoidable and we have made significant changes as a direct result of the aspects of her care which did not meet the standards we would expect.”last_img read more