RioCan REIT's Ed Sonshine on challenges and opportunities in real estate
BNN Bloomberg
The founder of RioCan REIT says it wasn’t a straight path to success as he navigated complex world events to build his company into one of the largest real estate investment trusts in Canada.
Edward Sonshine, now chairman at RioCan, spoke with BNN Bloomberg ahead of his induction into the Canadian Business Hall of Fame this week about challenges he faced throughout his business leadership career, and his thoughts on the current real estate landscape.
Starting out, he said it was tough to convince people to invest in real estate in the 1990s as Canada was coming out of a recession. He weathered other unexpected challenges until he stepped down as CEO in 2021, in the midst of the COVID-19 pandemic.
Sonshine told BNN Bloomberg that gathering the right team of people at his business was crucial, but challenging at times.
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