Transamerica Life Canada and Menkes Developments Inc.have entered into an equity partnership to develop a $120 million office complex at 5000 Yonge Street in Toronto.

Transamerica Life Canada will relocate its Head Office from Scarborough, Ont. to 5000 Yonge, when the new 20-storey building is completed in April 2004. Transamerica will become the lead tenant, occupying approximately 55 percent of the building’s 540,000 sq. ft. of rentable space. The building will be known as the Transamerica Tower. Construction will begin in March 2002.

The design of 5000 Yonge will create a distinctive and identifiable image through its expression of form and use of high-quality materials, says Transamerica. A sweeping curtain wall dramatically slices through the tower and extends to a “prow” on Yonge Street emphasizing the tower’s uniqueness. At the base of the prow is the two-storey glazed office lobby. The tower itself will be sheathed in a striking palette of pewter and grey glass.