A strategic acquisition for Desjardins in the heart of downtown Toronto
December 12, 2025
A major transaction
The Desjardins Group Pension Plan (DGPP) and Desjardins Global Asset Management (DGAM) have completed a major transaction in the Canadian real estate sector. The 2 partners acquired the office tower located at 70 York Street, in Toronto’s financial core, for $134.6 million. DGAM holds 60% of the investment, while DGPP holds 40%.
A prestigious building
Located just steps from Union Station and the PATH pedestrian network, this fully renovated 16-storey tower offers approximately 210,000 square feet of rental space. Currently 92.5% occupied, it houses top-tier tenants with a weighted average lease term of 6.8 years. According to Dominic Poulin, DGPP’s Head of Real Assets, “This reflects the quality of the location and the property.”
A market in recovery
Although the office market has faced challenges in recent years, Class A buildings in strategic locations such as Toronto are showing clear signs of recovery. For DGPP, this acquisition represents an opportunity to diversify its portfolio and strengthen its presence in a promising segment.
A strategic partnership
DGPP wishes to express its appreciation to its partner DGAM for this rare opportunity to acquire a prestigious asset at a competitive price.