The Public Sector Pension Investment Board is reporting its London-based office real estate asset is fully leased.
“We are delighted that 22 Bishopsgate has reached full occupancy, marking a significant milestone for this asset,” said Stéphane Jalbert, managing director and head of Asia-Pacific and Europe, real estate investments at PSP Investments, in a press release. “It stands as a testament to PSP Investments’ unwavering commitment to creating sustainable, future-fit workspaces that cater to the evolving needs of modern businesses and reflects our continued belief in London as one of the world’s leading centres of business.”
In other news, the Canada Pension Plan Investment Board is creating a joint venture with real estate firm Bridge Industrial to invest in high-quality industrial properties in several U.S. markets.
The partnership will also retain the optionality to pursue development opportunities. Both organizations are allocating US$789 million in equity and the CPPIB will gain a 95 per cent stake in the joint venture.
“The industrial sector’s favourable market dynamics position this joint venture well to deliver strong returns for the CPP Fund,” said Sophie van Oosterom, managing director and head of real estate at the CPPIB, in a press release. “Bridge and [the CPPIB] have a shared vision of the value and opportunity in the sector, and we’re pleased to expand our partnership.”
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