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The Healthcare of Ontario Pension Plan’s subsidiary HOOPP Realty Inc. is selling a portfolio of industrial properties to a real estate investment trust.

Under the terms of the deal, Skyline Industrial REIT1 will take ownership of four business parks located in the suburbs of Calgary and Edmonton for $309.25 million. The portfolio, which is more than 97 per cent occupied, includes 16 buildings on 52.5 hectares of land.

Read: HOOPP’s real estate arm to buy 50% interest in Calgary tower

In other news, the British Columbia Investment Management Corp. is securing a significant minority stake in a privately owned franchise group.

According to a press release, the BCI’s decision to invest in Authority Brands, which owns 12 franchises offering cleaning, exterminating, gardening and home care services, was based on its strong market position.

“As a long-term investor, we seek to invest in market-leading companies with strong management teams, multiple levers for growth and resilient business models that create shareholder value, such as Authority Brands,” said Dave Hong, senior managing director of private equity at the BCI, according to the release.

Read: BCI backs consortium buying majority stake in U.K. natural gas provider, CPPIB-backed joint venture funds South Korean data centre