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Try refreshing your browser. The Bow office tower sold in $1.67B deal Back to video
H&R REIT has sold the distinctive, 58-storey downtown property to affiliates of Chicago-based Oak Street Real Estate Capital, it said in a release.
H&R will receive 15 per cent of net rent from the tower’s primary tenant, U.S.-based energy company Ovintiv, under a lease that continues until 2038. It will also retain ownership of lands adjacent to the two-million-square-foot tower.
The total value of the Bow tower sale is about $1.2 billion, or $608 per square foot, including a lease transfer to Deutsche Bank Credit Solutions and Direct Lending valued at $418 million.