EDMONTON, Alberta, July 05, 2018 (GLOBE NEWSWIRE) — ICE District Properties is proud to announce the sale of Edmonton Tower in ICE District to Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients. The terms of the transaction, which closed on July 5, 2018, will not be disclosed.
Edmonton Tower, which opened in 2016, is a 27-storey, LEED-Gold office tower situated in ICE District. With over $2 billion in assets under development in Phase One and a similar scale investment envisioned for Phase Two, ICE District is a transformational, mixed-use, sports and entertainment project in downtown Edmonton. ICE District Properties in collaboration with Katz Group Real Estate, ONE Properties and Oilers Entertainment Group will continue to oversee all aspects of development and operation of ICE District.
“AIMCo’s acquisition of Edmonton Tower demonstrates a clear affirmation of our confidence in Edmonton’s downtown real estate market,” said Micheal Dal Bello, Senior Vice President, Real Estate at AIMCo. “Growing our portfolio of high quality office properties in Edmonton offers our clients the unique opportunity to be a part of the rejuvenation of the downtown core.”
“We are pleased to find a buyer in AIMCo who understands the Edmonton market and we are confident they will do a great job as owner of the building,” said Jurgen Schreiber, Senior Managing Director, Katz Group on behalf of ICE District Properties. “As we continue development of ICE District it is positive to see world-class investors such as AIMCo interested in the project and the big-picture vision for Edmonton’s downtown.”
About ICE District Properties
ICE District Properties is a joint venture between Katz Group and ONE Properties to develop ICE District. ICE District will be the largest mixed-use sports and entertainment district in Canada and is already projecting an energy and feeling unlike anything Edmonton has seen before. ICE District delivers a new era of diverse entertainment and lifestyle offerings. A public plaza with year-round programming will host events from festivals to public skating. All of this, just steps from sophisticated residences, premium office space and Rogers Place, North America’s most advanced sports and entertainment venue.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than CAD 103 billion of assets under management, as at December 31, 2017. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta. For more information please visit www.aimco.alberta.ca.
AIMCo’s $13.6 billion real estate portfolio includes Core strategy assets, comprising long term, direct investments in quality office, retail, industrial and multi-unit residential properties located in Canada’s major cities, and Foreign Program assets, comprising opportunistic investments targeted to quality real estate assets, in markets with long term growth characteristics, and supported by strong local management teams.
For more information, please contact:
Katz Group / ICE District Properties