5/23/2012 11:06 AM
Scotiabank entered in to deliberation to sell its Toronto headquarters for $1.22 billion to two Canadian real estate trusts. Scotia Tower is 275 meters tall (902 feet) and is the second tallest tower in Canada, according to the Skyscraper Center.
Dundee Real Estate Investment Trust and H&R Real Estate Investment Trust agreed to buy the headquarters of Canada’s third-biggest bank, Bloomberg reports.
Scotiabank signed a lease agreement to secure its occupancy as the anchor tenant in the Scotia Plaza complex for an average of 13.5 years.
The 68-story tower has been the home of Scotiabank’s Canadian operations since 1988.