Transactions - SEPTEMBER 1, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CPPIB acquires 50 percent interest in Canadian portfolio for C$1.2b

by Andrea Waitrovich

The C$287 billion ($219 billion) Canada Pension Plan Investment Board has acquired a 50 percent interest in a portfolio of high-quality office properties in downtown Toronto and Calgary at a gross purchase price of C$1.175 billion ($900 million). The interest was acquired from Oxford Properties Group, the real estate arm of the C$77 billion ($59 billion) Ontario Municipal Employees Retirement System, which will continue to manage the properties on behalf of the partnership.

The 4.2 million-square-foot portfolio includes seven office buildings with a broad mix of tenants in financial services, technology, accounting, legal and commodities businesses. In Toronto, the Richmond-Adelaide Centre is a high-quality office complex that includes five buildings located in the city’s financial district, totaling 2.4 million square feet and covering almost all of a 4.5-acre city block. In Calgary, Centennial Place and Eau Claire Tower are two class A properties developed by O

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy