REAL ESTATE
From Times Staff and Wire Reports
O&Y; Transfers Toronto Asset to U.S. Firm: Troubled Olympia & York Developments Ltd. has transferred ownership of one of its prime Canadian properties, Aetna Canada Center, to Prudential Insurance Co. of America. The 28-story Aetna Canada office tower in downtown Toronto is the first Canadian building the property developer has lost since it sought bankruptcy court protection from creditors last May. The deal, which was sealed in an Ontario bankruptcy court on Thursday, gives Prudential full ownership and control of the Aetna building. Prudential’s seizure of Aetna Canada reflects the steady liquidation of O&Y;, which is expected to pick up speed through 1993.
