Corus Quay waterfront building sold to H&R REIT for $186M
Posted March 13, 2012 5:39 pm.
This article is more than 5 years old.
Corus Quay, the downtown Toronto waterfront property that houses the head office for Corus Entertainment Inc., has been sold to H&R Real Estate Investment Trust for $186 million.
Corus Entertainment had purchased the property from the municipal government-owned Toronto Port Lands Co. on Monday, and immediately resold it to H&R for the same amount, the company said.
Corus Entertainment will continue to be the main tenant at the eight-storey building located at 25 Dockside Dr.
As part of the deal, Corus Entertainment will extend its 20 year lease term at Corus Quay and have the option to renew.
The state-of-the-art building, which is the first major building on Toronto’s revitalized East Bayfront, was completed in 2010 and features ground-floor radio and TV studios, a green roof and a three-storey slide.
