Regional Group has acquired a major office tower in downtown Ottawa that houses Export Development Canada’s global headquarters for an undisclosed price.

The company said the acquisition of the approximately 500,000-square-foot asset at 150 Slater Street marks a landmark addition to its office portfolio as 2026 begins.

The 19-storey class A tower formalizes the locally owned firm’s expansion into the city’s central business district. The acquisition signals confidence in the long-term strength of Ottawa’s office market, said Regional.

Built in 2010, the property stands at the corner of Slater and O’Connor streets and is constructed to a LEED Gold standard. Anchored by a marbled podium and grand lobby, the building offers abundant natural light, flexible office layouts and a range of amenities designed to attract high-quality tenants.

At closing, the property was 100% occupied, with office and ground-floor retail tenants. The tower includes 215 underground parking spaces, a rooftop lounge and a private gym, and offers direct access to the LRT.

While some investors have remained cautious about office assets in recent years, Regional Group said it sees opportunity in high-quality properties with long-term value.

“We believe the bottom of the office cycle has passed, and this property is a standout addition to our portfolio, taking advantage of the fact that typical investors have been sidelined,” said Sachin Anand, vice-president of acquisitions at Regional Group.

“We firmly believe in the resilience of the sector, and we are strategically investing in class A office buildings with strong long-term potential,” added Sender Gordon, president and CEO of Regional Group.

The acquisition marks Regional Group’s third major class A office complex purchase in the past four years. The company said the transaction underscores its ability to compete in a market where landmark deals are typically led by large institutional owners and REITs.

“We’ve always approached our acquisitions with an eye to what makes sense today and for the long term,” said Gordon. “This property offers excellent future potential with high-quality existing tenants, and we’re thrilled to add it to our portfolio.”

“This isn’t just about a real estate transaction,” he added. “It reflects our continued commitment to Ottawa’s economic community, to shaping a vibrant city, and to Enriching Communities for years to come.”

Regional Group has assumed management of the building.

The local investment and management firm has more than 65 years of experience in Ottawa’s real estate market,

Pictured: Regional Group’s newly acquired office tower in downtown

Photo: CNW Group/Regional Group