TORONTO – Scotiabank has signed a deal to sell its stake in its downtown Toronto headquarters to a pair of real estate trusts for $1.27 billion.
The bank is selling the office tower to Dundee REIT and H&R REIT.
The Scotia Plaza complex includes the main tower at 40 King Street West and the historic bank building at 44 King Street West as well as other smaller properties on the same block.
Despite the sale, Scotiabank isn’t moving its headquarters.
The bank has also signed a lease agreement as the anchor tenant throughout the complex.
Scotiabank signs deal to sell downtown Toronto headquarters office for $1.27B
The Canadian Press
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