Notable Q3 2023 transactions
130 Slater Street – Office
This 13-storey, 122,906 square foot office building in Ottawa’s downtown core was acquired by Gatineau-based developer Katasa Group for a total consideration of $15.5 million. The office tower was acquired as part of a two-building office portfolio deal, which also included the transaction of the 22-storey building at 66 Slater Street for a consideration of $57 million. Constructed circa 1967 and having a high vacancy rate, 130 Slater was acquired to be converted to residential use. This transaction underscores the growing trend of office to residential conversions in Ottawa’s downtown core. Another example seen in the year was 360 Laurier Avenue West, a ten-storey office building acquired by CLV Group in July for a consideration of $17.5 million.
https://www.altusgroup.com/insights/ottawa-cre-market-update-q3-2023/