Oxford and GE Capital Real Estate acquire titanic TELUS Tower

TORONTO – Oxford Properties Group of Toronto, and Stamford, Conn.-based GE Capital Real Estate have purchased the TELUS Tower, a 722,000 sq. ft. Class-A office property in downtown Calgary, Alberta. The 27-story building cost $120 million and will be jointly owned, one third by Oxford, and two-thirds by GE Capital. Oxford will manage the complex.

TELUS Corp., a present tenant and large telecom company, has drafted a new 15-year lease.