Osler advises on largest Calgary real estate deals for 2021

Riley Whitlock, Bavia Bisetty, Paul Morassutti

Dec 14, 2021

Osler has acted on two of the largest commercial real estate deals in Calgary for 2021, both involving major office towers in the city’s downtown core.

On October 7, 2021, H&R REIT completed its sale of Calgary’s iconic Bow Office Tower, a 58-storey, two million square foot tower, for $1.67 billion. The transaction included the sale of the Bell office campus located in Mississauga, Ontario.

The other significant transaction closed on  November 22, 2021 when Oak Street Real Estate Capital, a Chicago-based private equity firm, completed its acquisition of Western Canadian Place in Calgary, an approximately one million square foot office complex located in the downtown core. This transaction marks the second largest real estate transaction in Calgary this year.