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True North Commercial REIT to buy 2 Canadian office properties for C$191M

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True North Commercial REIT to buy 2 Canadian office properties for C$191M

True North Commercial REIT agreed to acquire two office properties totaling approximately 524,800 square feet in Ontario and Alberta for approximately C$190.5 million, exclusive of closing costs.

In Ontario, the company is buying a 315,400-square-foot property at 101 McNabb St. in Markham, with closing expected on or about Nov. 15. The building is fully occupied by The Toronto-Dominion Bank and General Motors of Canada Co.

In Alberta, the real estate investment trust agreed to purchase the three-story, 209,400-square-foot ATB Westwinds Campus at 3699 63rd Ave. NE in Calgary, with closing expected on or about Nov. 4. The property is fully occupied by ATB Financial.