“It is well priced from an investment value perspective and offers the long-term cash flow we look for as a pension plan,” says Jim Leech, senior vice-president, Teachers’ Private Capital, the private investment arm of the pension plan.
Two of the terminals are in the Vancouver area and the other two are located in New York and New Jersey.
Combined annual sales of the operations total about $500 million
The assets will be held within the pension plan’s infrastructure and timber portfolio, which totals $6.5 billion with this purchase.
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