The twin six-story buildings contain an aggregate 301,421 sf and are 100% net leased to TD Bank, one of Canada's largest financial institutions, for a 15-year term. RPCL is expected to secure financing for the acquisition early this quarter.
Morguard Corp. subsidiary Morguard Investments Ltd. Assisted RPCL with the transaction and was paid .75% of the $56 million purchase price for its services.
In other news, Toronto-based RPCL also revealed that it has completed the transaction transferring its remaining interest in P.T. Gaming LLC's Nevada gaming business, effectively removing the company from the gaming business.
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