Torstar Corp. has sold its Toronto headquarters building for $40-million to a private holding company. The owner of the Toronto Star daily newspaper said yesterday it made about $22-million from the sale of the building at the foot of Yonge Street, across from Lake Ontario. Torstar acquired the building in 1996 from a creditor group. Yesterday's sale to a private holding company, represented by closely held real estate company Osmington Inc., will result in Torstar leasing back space in the building for its newspaper operations. "As a non-core asset, it was never intended that ownership be retained for any length of time," the Toronto-based publishing firm said in a release.
- Report on Business Company Snapshot is available for:
- TORSTAR CORPORATION