SITQ, the Caisse de dépôt et placement du Québec’s real estate arm, has purchased a 50% interest in some Calgary properties from Alberta Investment Management(AIM).

Financial terms of the deal were not disclosed.

With this transaction, SITQ becomes an equal partner with AIM in the TD Canada Trust and TD Square projects. They are also partners in Place Ville Marie, a downtown Montreal office building.

The portfolio in which SITQ acquired 50% represents 1.8 million square feet of office and commercial space.

Paul Campbell, president and CEO of SITQ says the acquisition “represents a significant step for SITQ, thus consolidating its position in the Calgary market.”

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