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True North achieves modest premium on Burnaby office sale

Property last sold in 2018 for $1.75 million less than the current value
True North REIT closed its sale of 9200 Glenlyon Parkway, Burnaby, on June 27.

DEAL | Toronto-based True North Commercial REIT closed the sale of 9200 Glenlyon Parkway asset in Burnaby for $37 million on June 27. The property totals 90,550 square feet on nearly six acres and is the largest of four properties True North has disposed of in recent months, accounting for 60 per cent of the aggregate sale price of $61.4 million. The buyer was not disclosed. True North purchased the property in October 2018 for $35.25 million. The current assessed value is $41.3 million.

PRICE | $37,000,000

FROM | True North Commercial REIT