R2 Capital has acquired Wood Centre, a Class A office building in northeast Calgary, the company announced Tuesday.

The company said it acquired the property at approximately $163 per sf, a significant discount from its previous 2017 transaction price of about $325 psf.

The firm said the purchase aligns with its strategy of acquiring well-located, high-quality assets at attractive valuations with long-term cash flow potential.

The property, located at the intersection of Memorial Drive and Barlow Trail, comprises approximately 221,290 square feet of gross leasable area on roughly five acres. Built in 2008, the asset offers a parking ratio of one stall per 373 sf and benefits from strong visibility and access to major transportation routes, including proximity to downtown Calgary and Calgary International Airport.

Wood Centre is currently 91% leased, with a weighted-average lease term exceeding seven years. The tenant roster includes Wood Canada Engineering, the City of Calgary, Emerson Electric and Silvera for Seniors, providing stable and diversified income.

The acquisition comes after R2 Capital Partners acquired two class A office towers in Calgary’s northwest quadrant in 2025 for a price also well below their previous market value. The company said it purchased One and Two Executive Place for $160 psf representing a 59% discount from the $46.55 million price the properties last traded for in 2014.

Redondo Beach, Calif.-based R2 Capital is a privately held real estate investment firm focused on institutional-quality commercial assets across North America, with a portfolio exceeding 900,000 square feet and valued at more than $135 million.

Pictured: R2 Capital’s newly acquired Wood Centre office building in Calgary.

Photo: CNW Group/R2 Capital