With Scotia Plaza hitting the block with an expected asking price of a billion dollars, many are wondering where the sale would stand in the history of Canadian office deals.
RealNet Canada Inc. sorted through its database, and dug up the following list of the five most expensive office deals in Canadian history.
1) Commerce Court, Toronto (2000), $618-million
Sold by CIBC to British Columbia Investment Management Corp.
2) Royal Bank Plaza, Toronto (1999), $485-million
Sold by Royal Bank to Oxford Properties and OMERS Realty Corp.
3) Bankers Hall Complex, Calgary (2000), $437-million
Sold by TrizecHahn Corporation and Calgary Financial Tower Ltd. to Gentra Canada Investments
4) Brookfield Place - TD Canada Trust Tower, Toronto (2008), $429-million (half-stake)
Sold by Brookfield Properties to OMERS Realty
5) Gulf Canada Square, Calgary (2007), $382-million
Sold by O&Y, Brookfield, CGS to Great West Life and London Life