TORONTO — Oxford Properties and co-investor CPP Investments are exploring the sale of Royal Bank Plaza in Toronto.
The property management company says it has hired RBC Capital Markets and CBRE to pursue a potential sale of the plaza located at 200 Bay St.
Randy Hoffman, senior-vice president of Oxford's Canadian business, says his company is exploring the sale because it wants to capitalize on demand for well-leased and located offices and continue to diversify its holdings.
Oxford has owned the plaza since 1999 and in 2005, CPP Investments became a co-investor.
Oxford says the plaza includes more than 139,354 square metres of space across two towers and a retail concourse.
Oxford says Royal Bank of Canada leases 40 per cent of the space.
This report by The Canadian Press was first published Sept. 2, 2021.
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