An unknown buyer acquired Kelowna Business Centre in Kelowna, BC from Melcor Real Estate Investment Trust (TSX:MR.UN) for CAD 19.5 million.

Melcor Real Estate Investment Trust is a Canada-based open-ended real estate investment trust. The Company’s principal business is to acquire, own and manage office, retail, and industrial properties in select markets across Western Canada. Its portfolio consists of interests in approximately 38 properties representing approximately 3.1 million square feet of gross leasable area located Alberta and in Regina, Saskatchewan, and Kelowna, British Columbia. Melcor has approximately five million square feet in planned commercial developments. Its portfolio of properties is located across Canada in various cities, which include Coast Home Centre in Edmonton; Kingsview Market in Airdrie; Birks Building in Edmonton; Capilano Centre in Edmonton; Crowfoot Business Centre in Calgary; Parliament Place in Regina, Melton Building in Alberta, and others. The properties are externally managed, administered and operated by Melcor Developments Ltd. (Melcor).