iA Financial Group acquires Victoria office properties from HOOPP in $131.5 million deal

On Nov. 30, 2017, Industrial Alliance Insurance and Financial Services Inc. ("iA Financial Group") paid $131.5 million to purchase three office properties in Victoria, BC, from HOOPP Realty, part of the Healthcare of Ontario Pension Plan.

The buildings are Sussex Place, at 1001 Douglas St. and 720 Broughton St. in downtown Victoria, and 2975 and 2995 Jutland Rd. at the Selkirk Waterfront. They total 300,000 square feet. Each property holds long-term leases with BC government tenants.

Stacey Handley and Karoline Clarke of Gowling WLG advised iA Financial Group with respect to this transaction.