Large Mississauga complex used by Bell sold in billion dollar deal

Bell’s large Mississauga workplace campus has been sold along with a landmark Calgary office tower for $1.67 billion.

The 1.1 million sq-ft Mississauga building is located on Creekbank Rd. in the Eglinton Ave. E and Eastgate Pkwy. area.

The new owner is Oak Street Real Estate Capital, a Chicago-based private equity real estate firm which bought the properties from H&R Real Estate Investment Trust of Toronto. H&R intends pay down debt and consider future strategic opportunism with fresh infusion of cash.

The Mississauga campus was valued at $457,000,000 with the Bow Tower in Calgary accounting for the rest of the funds.

Bell currently employs more than a thousand people in Mississauga with the majority working out of the office facility on Creekbank. It has recently signed a lease extension to stay at the location.