The Canada Pension Plan Investment Board is joining up with mall developer Phoenix Mills Ltd. to develop, own and operate retail properties in India. Read: What should institutional investors expect from real estate in 2017? The partners will develop the projects through the Island Star Mall Developers Pvt. Ltd. platform, a subsidiary of the Phoenix Mills. Island Star owns […]
A joint venture that includes the Canada Pension Plan Investment Board has acquired three student housing portfolios across the United States for more than $2.1 billion. Along with Singapore’s GIC Private Ltd. and student housing company the Scion Group, the CPPIB is investing in six properties located in the southern United States for $518 million and […]
Ivanhoé Cambridge, the real estate arm of Caisse de dépôt et placement du Québec, is selling the company that owns Xanadú shopping centre in Madrid, Spain, as well as management companies associated with the centre and SnowZone operating company. The buyer is Intu Properties, which owns shopping centres in Britain and Spain, and is for […]
The Canada Pension Plan Investment Board is investing alongside Ivanhoé Cambridge with real estate logistics specialist LOGOS to develop and acquire modern logistics facilities in Singapore and Indonesia. In Singapore, CPPIB will initially commit S$200 million for an approximate 48 per cent stake in LOGOS Singapore Logistics Venture, which will be seeded by two fully-leased […]
The Ontario Pension Board and its partner Cadillac Fairview are set to begin construction of a new 32-storey office tower at 16 York St. in Toronto. The building, comprising 879,000 square feet of first-class office space, three underground parking levels with nearly 300 parking stalls and ground level retail space, is slated to open June […]
The Alberta Investment Management Corp. has acquired HSBC Bank Place and Enbridge Place in Edmonton, Alta. The investment adds more than 550,000 square feet of downtown office space to the pension fund’s clients’ real estate portfolios. The properties are centrally located in the city’s financial core. “For almost all of us at AIMCo, Edmonton is […]
The Canada Pension Plan Investment Board is acquiring a 24.5 per cent interest in an office tower and plaza in Houston, Texas for about $185 million. The properties are part of an office portfolio that comprises 11 office buildings totalling about 4.9 million square feet in office space. The portfolio’s owner, Parkway Inc. will continue […]
Last year was another significant one for the real estate market as British Columbia introduced its tax on foreign buyers and the federal government made another set of changes to mortgage rules. The market remained relatively strong despite the changes, but with the landscape for real estate in flux, many institutional investors are fine-tuning their […]
With many funds considering co-investments for real estate deals, Canadian pension plans have been particularly eager to embrace the option. Globally, 19 per cent of public pension funds and 15 per cent of private plans make co-investments, according to a report published last year by London, England-based data and intelligence company Preqin Ltd. Those numbers […]
BlackRock survey shows big decrease in cash, equity holdings.