On December 20, 2024, University Health Network (“UHN”), Canada’s largest research hospital and an internationally recognized leader in patient care and innovation, acquired 522 University Avenue in Toronto, Ontario — a strategically located 15‑storey office building comprising approximately 210,000 sq. ft. The acquisition strengthens UHN’s footprint within Toronto’s healthcare corridor and supports its ongoing operational and research expansion near its existing facilities.
The transaction, valued at C$79.25 million, marked one of the top office acquisitions in the Greater Toronto Area of the year. In 2025, the acquisition was recognized as the “Office Investment Deal of the Year” at the NAIOP Greater Toronto Chapter’s 23rd Annual REX Awards Gala for its significance within the commercial real estate sector.
Fasken acted for UHN in the acquisition and related post‑closing matters, with a team led by Iris Tam, including Sarah Turney, Robert Iaccino, Julie Paquette, Luigi Pasqualitto (Real Estate); Lu Chen and Nicholas McFarlane (Banking & Finance).
Jurisdiction
- Ontario
