Globe and Mail Centre Partners Receive the REX Award
Posted: March 26, 2018
for Office Development of the Year
Toronto, March 26, 2018 – First Gulf and OPTrust, one of Canada’s largest defined benefit pension plans, have been awarded the prestigious, NAIOP Greater Toronto Rex Award for Office Development of the Year – The Globe and Mail Centre, at the 17th Annual Real Estate Excellence Awards.
Located at 351 King Street East, Toronto, the Globe and Mail Centre is a 500,000-sf office landmark targeting LEED® Gold-Certification. The building was developed through a 50/50 limited partnership between OPTrust and First Gulf Corporation, anchored by the Globe and Mail, pre-leased by Colliers International and designed by Diamond Schmitt Architects.
“At OPTrust, real estate investing plays an increasingly important role in delivering our mission; to pay pensions today and preserve pensions for tomorrow and I want to congratulate our partners on this collaborative effort,” said Hugh O’Reilly, President and CEO of OPTrust. “Investing in innovative, state-of-the-art buildings such as the Globe and Mail Centre provides predictable income, generates solid risk-adjusted returns and helps lower funded status volatility,” added O’Reilly.
The NAIOP REX Awards recognize and celebrate the achievements of the office, industrial, retail and mixed-use real estate industry in Toronto, focusing on results and values including community and environmental awareness.
With net assets of over $20 billion, OPTrust invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with over 92,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government of Ontario.
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