Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, is increasing the size of its investment partnership with Walker & Dunlop Investment Partners to US$500 million.
The investment partnership, which was originally formed in 2021, will continue to seek equity investments in multifamily properties, student housing and manufactured housing throughout the U.S. The partnership aims to operate assets in 25 top metropolitan areas with an investment horizon period of three to 10 years.
“This partnership with WDIP is part of a broader strategy to increase our investments in the preferred equity space, in line with our sectoral beliefs, to provide a flexible capital solution with an attractive risk-return profile,” said Eric Desjardins, senior director investments and U.S. residential at Ivanhoé Cambridge, in a press release.
Read: A look at Ivanhoé Cambridge’s mission to reposition
In other news, the Public Sector Pension Investment Board is selling a majority of its stakes in Vantage Data Centers, a provider of hyperscale data centre campuses.
The transaction will see PSP Investments sell its position in North America and Europe, as well as the Middle East and Africa development platforms for proceeds of roughly US$2.3 billion to Silver Lake Management LLC and DigitalBridge Group Inc. The investment organization noted it remains committed to investing in the digital infrastructure sector.
In a press release, Patrick Samson, senior vice-president and global head of real assets investments at PSP Investments, said they are proud of the growth created alongside Vantage. “From the early days with a few data centres in North America, to a platform operating across the globe, Vantage has done an outstanding job of building a market leading hyperscale data centre platform that we are proud to have been a part of,” he said.