Canada Pension Plan Investment Board (CPP Investments), through its wholly owned subsidiary CPPIB Credit Investments Inc. (CPPIB Credit), has acquired the ownership of prime shopping center, the Trafford Center in Manchester, United Kingdom.
“The Trafford Center is one of the United Kingdom’s top five shopping centers, welcoming more than 30 million shoppers annually, and counts many leading global retailers among its occupiers,” said Geoff Souter, managing director, head of real assets credit, CPPIB Credit. “While conditions for retail in 2020 have been very challenging, we are able to take a long-term view and believe that, with strategic management and investment, the Trafford Center has strong prospects. An immediate priority is to support the Trafford Center’s management, ensuring continued optimal operation of the Trafford Center, and to appoint a long-term expert operating partner.”
In 2017, CPPIB Credit provided a £250 million (€277 million/$338
