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Toronto, ON - RioCan Real Estate Investment Trust (TSX: REI.UN) and Tanger Outlet Centers Inc. are going ahead with the purchase of two outlet centres in the Montreal area for $94.7 million.

The co-owners announced Tuesday that they will share the cost of buying Les Factoreries St. Sauveur and Bromont Outlet Mall on a 50-50 basis.

RioCan will provide development and property management services and Tanger will provide leasing and marketing services.

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