Today's News |
Avigilon Completes Sale of Downtown Vancouver Office Tower for $108 Million
Monday, February 19, 2018Company Profile | Follow Company
Vancouver, BC, February 19, 2018--(T-Net)--Avigilon Corporation (TSX: AVO), provider of trusted security solutions, today announced that it has completed the sale of the Company's downtown Vancouver office tower and associated land, as previously announced last year, for gross proceeds of approximately CAD $107.5M.
As part of the sale, Avigilon has leased back the same office tower.
The former TELUS building at the northeast corner of Robson and Seymour streets is a nine-storey, 130,000-square-foot office building in downtown Vancouver at 555 Robson Street. The Building is adjacent to the new TELUS Garden building.
Avigilon originally purchased the building from TELUS for $42 million so they likely have made a substantial profit and capital gain on the transaction, even after a reported significant renovation and upgrade to the facilities.
Avigilon also recently reported its acquisition by Motorola for $1.23 billion in a monster deal (all-cash transaction) earlier this month.
About Avigilon
Avigilon Corporation provides trusted security solutions to the global market. Avigilon designs, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. To learn more about Avigilon, visit avigilon.com.
© 2018, Avigilon Corporation. ™ indicates a trademark of Avigilon Corporation. Other marks referred to herein are the property of their respective owners.
Investor Enquiries:
Avigilon Investor Relations
T: (604) 629-5182
investors@avigilon.com
Media Enquiries:
Amy Day
Senior Manager, Global Communications
T: (604) 629-5182 x2625
media@avigilon.com
Other Recent Company News |
|||||||||||||||||||
|