In 2003, Forum Equity Partners completed a $66 million sale-leaseback with TransAlta Corporation of its global headquarters. The property, located in Calgary Alberta, covers an entire city block in the downtown Beltline district. The complex contains 3 buildings, totalling approximately 335,000 square feet of office space. TransAlta Corporation has leased back the entire complex on a long-term basis.

TransAlta Corporation (www.transalta.com) is one of Canada's largest non-regulated power generation and wholesale marketing companies, with close to $9 billion in coal-fired, gas-fired, hydro and renewable generation assets in Canada, the U.S., Mexico and Australia. TransAlta had close to $2.8 billion in annual revenues in 2006 with operating income of $674 million. Standard and Poor's rates TransAlta Corporation as BBB-.

Prior to selecting Forum for this transaction, the property was marketed to Canadian and international investors on behalf of TransAlta by Brascan Financial Real Estate Group. (www.brascanfinancial.com).  Forum restructured the lease with TransAlta in 2006 and sold this property in 2007. 

< Back to Portfolio