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New Deal


Announced

Deka Immobilien to acquire 402 Dunsmuir St. and 401 West Georgia St. towers from Canada Pension Plan Investment Board and Oxford Properties Group for CAD300m.

Financials

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Transaction Value£176m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Real Estate Services

Acquisition

Cross Border

Private

commercial buildings

Canada

Majority

Single Bidder

Private Equity

Pending

Friendly

Real Estate

Synopsis

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Deka Immobilien, a real estate investment company, agreed to acquire 402 Dunsmuir St. and 401 West Georgia St. towers from Canada Pension Plan Investment Board and Oxford Properties Group for CAD300m. The funds had initially aimed to get around CAD350m for the properties. But recently, it’s been hard to accurately price office buildings because few sizable properties have traded globally, one reason the sale of the Vancouver towers was so closely watched both in Canada and abroad.

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