Avigilon has completed the sale of the company’s own downtown Vancouver office tower and associated land, the intention of sale was previously announced by the company in May 2017 with gross proceeds being cited at approximately CAD $107.5M.

"We're very pleased with the investment we made in the Building," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board, when the original announcement was made in May 2017. "The Transaction unlocks over $100 million in cash, will substantially reduce our debt, and secures a state-of the-art facility to support our growing business."

Avigilon purchased the Building in November 2015 for CAD $42M and then carried out renovations before moving into the new offices. As part of the sale, Avigilon has leased back the office tower.