A Holborn Group affiliate acquired the office tower at 1185 West Georgia St. in downtown Vancouver from Allied Properties for $74 million, Allied’s quarterly filing confirms.

The transaction closed June 15, 2026. Western Investor identified Maxfine International as the buyer. Maxfine and Holborn are part of Malaysian company TA Global.

The $74-million price equates to approximately $446 per square foot based on the 165,855 square feet of gross leasable area Allied reported when it acquired the building in 2022.

Constructed in 1984, the office and retail property stands at the northeast corner of West Georgia and Bute streets. It had 157 parking stalls and BOMA Best Gold certification in 2022.

Fluor Canada was identified as the building’s principal tenant in Allied’s 2022 acquisition announcement. The property was 91.2 per cent occupied at the time.

The purchase gives Holborn and its affiliates control of the three properties on the block bounded by West Georgia, Bute, Melville and Thurlow streets, according to Western Investor. The group also controls the adjacent Paradox Hotel Vancouver and FortisBC Centre.

Allied included the transaction among its dispositions of non-core, low-yielding properties. The trust completed 11 property sales during the first half of 2026, generating proceeds of $243 million.

The company has identified reducing debt, recycling capital and improving portfolio composition and productivity among its priorities.