On June 20, 2016, Dream Office REIT (“Dream”) together with KingSett Capital (“KingSett”) and Alberta Investment Management Corporation (“AIMCo”) announced a new co-ownership agreement to own Scotia Plaza in connection with the sale by Dream and H&R REIT of a 50% interest in Scotia Plaza to KingSett and AIMCo for a purchase price of approximately $657,500,000.
On August 23, 2017, Dream sold its remaining 50% interest in Scotia Plaza to its existing co-owners, KingSett Capital and AIMCo, for a purchase price of approximately $750 million.
Osler, Hoskin & Harcourt LLP represented Dream with a team that included Stella Di Cresce, Adrian Hartog, Daniel Michaels, Eric Choi (Real Estate) and Doug Marshall (Corporate) and Shuli Rodal (Competition).