The Canada Pension Plan Investment Board and Oxford, the real estate arm of the Ontario Municipal Employees’ Retirement System, have agreed to sell the two downtown buildings located on Dunsmuir Street and West Georgia Street to Germany-based Deka Group for about $300 million, sources told Bloomberg. The sale has not yet closed. (Bloomberg)

Talking point: The Canadian pension funds put the buildings—which count Amazon as a tenant—up for sale about six months ago and had targeted about $350 million. There have not been many sizable office real estate transactions recently, making it hard to price commercial properties—and also partly why the sale of the towers was closely watched. High interest rates and continued work-from-home arrangements have exacerbated pricing uncertainty in the office property market. Last week, Allied Properties, an office landlord, booked a $425-million loss in the value of rental properties in Toronto, Montreal, Calgary and Vancouver, as well as a $70-million loss on development sites in some of those cities. Spokespeople for Deka, CPP Investments and Oxford declined Bloomberg’s requests for comment.