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The TransCanada Tower is seen through branches in downtown Calgary in this file photo. (Jeff McIntosh/GLOBE AND MAIL)
The TransCanada Tower is seen through branches in downtown Calgary in this file photo. (Jeff McIntosh/GLOBE AND MAIL)

Ontario hospital pension to buy half ownership in TransCanada Tower in Calgary Add to ...

An Ontario-based pension plan has agreed to buy a half interest in the TransCanada Tower in Calgary for $257.4-million.H&R Real Estate Investment Trust says the property has almost doubled in value in the 15 years since it was built in 2001.

The buyer is HOOPP Realty Inc., a subsidiary of the Healthcare of Ontario Pension Plan (HOOPP), which manages about $64-billion of assets for its members.

The deal is subject to conditions but expected to close in November.

The 38-storey TransCanada Tower houses the headquarters for TransCanada Corp., one of North America’s largest pipeline and energy infrastructure companies.

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