Edmonton CN Tower sells for 10 dollars - and assumption of debt

CN Tower is Edmonton's oldest skyscraper - and it's just sold for a measly 10 dollars along with more than $64 million in debt.

The tower was purchased by Vancouver-based Trez CN Tower Holdings Ltd.

The 27-storey steel and concrete tower was first built in 1966 and previously sold in 2011 for $55 million.

The recent Alberta Assessment conducted 2020, put the value of the Edmonton CN tower building around $48.6 million, which is less than the $55 million when the tower last sold back in 2011.

The building suffered structural damage to the exterior on 18 July 2009, during a severe thunderstorm. Vehicles were crushed by falling debris at the base of the building to follow with some minor property damages.

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