Germany's Union Investment has sold the Bell Trinity Square tower in Toronto to Canadian investment firm Northam Realty Advisors Limited for CA$368.5 mln (EUR 300 mln). Union Investment decided to sell now to take advantage of strong demand for prime property in Canada and to generate a profitable return on the office tower complex which it had acquired in 2005 for CA$263 mln on behalf of two of its German open-ended real estate funds.
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