Historic Vancouver Landmark The Post Changes Hands
Global real estate developer QuadReal Property Group has confirmed the sale of The Post, a heritage mixed-use office building in downtown Vancouver that represents one of Canada's most ambitious heritage redevelopment projects. The transaction marks a significant shift in ownership for the iconic property located on West Georgia Street.
The Buyer and Property Management Details
While QuadReal, which is owned by the B.C. Investment Management Corporation pension fund, did not publicly disclose the buyer or sale price in its Thursday announcement, a source revealed to Postmedia that Pontegadea is the purchasing entity. Pontegadea is the investment firm of Spanish billionaire Amancio Ortega, the founder of the global fashion retailer Zara.
Despite the ownership transfer, QuadReal will maintain an ongoing role with the property. The developer confirmed it will remain as the property manager to ensure what it describes as "continuity of service excellence for both tenants and building community." This arrangement provides stability for the current occupants, most notably the technology giant Amazon.
A Legacy of Ambitious Redevelopment
The Post building carries significant historical weight in Vancouver's architectural landscape. Originally constructed in 1958 as the Canada Post building, the structure was designed by McCarter Nairne & Partners, one of Vancouver's leading architectural firms of that era.
The property underwent a massive transformation that began with redevelopment plans announced in 2015. This extensive project involved carefully restoring many of the building's iconic heritage features while simultaneously adding a substantial 1.1 million square feet of modern office space. The balance between preservation and modernization made the project particularly notable in Canadian development circles.
The redevelopment success attracted major corporate interest, culminating in 2019 when Amazon leased the entire former Canada Post building. The technology company's commitment to the space signaled confidence in both the building's transformation and Vancouver's growing status as a tech hub.
The sale of The Post represents a milestone in Vancouver's commercial real estate market, transferring one of the city's most significant heritage-meets-modern properties to international investors while ensuring continued professional management and tenant stability.
