It says it is also selling an effective 45 per cent stake in future rent from gas producer Ovintiv Inc. to Deutsche Bank Credit Solutions and Direct Lending for gross proceeds of $418 million. The REIT says the deal will reduce its Calgary office exposure from nine per cent to three per cent and reduce Ovintiv Inc.'s representation in its rental portfolio from 12 per cent to two per cent. The REIT says it will retain 15 per cent of net rent from a lease held by Ovintiv, previously known as Encana Corp., and will hold onto the Bow and Bell campus' management contracts, which it valued at roughly $203 million.