SaskTel gets $28 million for Saskatoon Square

REGINA – SaskTel announced Wednesday Saskatoon Square has been sold to Dundee Real Estate Investment Trust for $50 million. SaskTel owns 70% of the building and will recognize a gain on the sale of approximately $27.7 million.“SaskTel is divesting of this asset in order to focus on its core business of providing the best communications services to its customers,” said Ron Styles, SaskTel president and CEO, in a press release. “Saskatoon Square was not core to our business and was a commercial real estate investment, as we owned 70% of the building and only occupied 20%.”The partners in the investment,...