Ottawa OKs Anbang’s $660M Bentall Centre Deal

Ivanhoé Cambridge

Ottawa has approved China-based Anbang Insurance Group’s deal to pay a reported $660M for a 66% majority stake in Bentall Centre. The 1.5M SF four-tower office complex was put on the block last fall by Ivanhoé Cambridge, which co-owns it with Great West Life Assurance. The sale, which was subject to federal review, is among the largest real estate deals in Vancouver history, reports The Province. It’s the city's second trophy office transaction this year; in March, German billionaire Klaus-Michael Kuehne bought Royal Centre, netting Brookfield Office Properties $285M. Anbang last year bought a $110M land lease interest in Toronto’s 70 York St. [VP]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Law Firms Drive Boston Office Rents To Record Highs

3 Houston Office Properties, Vacant To Nearly Full, Change Hands

Spirit Christmas Unveils Plans To Grow Store Count This Holiday Season

Deutsche Hypo Finances Zadelhoff's Amsterdam Offices With €75M Loan

Hurricane Isaias Puts More Than $40B In Multifamily Property In Its Path

Braemar Inches Closer To Ashford Breakup With $372M Hotel Sale

Transformers: Yet Another Data Center Power Infrastructure Supply Chain Bottleneck

SFF Realty Partners Extends Spending Spree With $82M Acquisition In Downtown San Jose

Proposed EPA Rule Change Could Cut Months From Timelines Of Projects Near Wetlands

Drawbridge Realty Acquires 180K SF Office Building In Sunnyvale For $219M

Downtown Los Angeles Retail, Office Hub The Bloc Up For Sale

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office