Avigilon Corporation has successfully completed the $42M acquisition of an old nine-storey, 135,000 square foot office building, formerly the HQ of telecom giant Telus and centrally located in downtown Vancouver, Canada. The floor space at these new offices is more than double that of the company’s previous location. The building was financed through Avigilon’s real estate term loan facility secured in April and the company paid a $2M deposit in February this year.
“We’re pleased to announce the successful acquisition of our new global headquarters, which provides more than double the space we presently lease at a lower financing cost than our current rent,” said Alexander Fernandes, Avigilon’s Founder, President, Chief Executive Officer and Chairman of the Board. “Avigilon has over 1,000 employees, and an ongoing need for expansion as one of North America’s fastest growing technology companies. This purchase is a sound investment that will help secure Avigilon’s future. It will support our rapidly expanding workforce and serve as a distinguished location for our global headquarters.” Meanwhile, as Avigilon takes over these offices, giant telecoms group Telus have already moved into their new $750M headquarters also in downtown Vancouver in September.
