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CPPIB to buy Parkway in $1.2b deal

by Andrea Waitrovich

The Canada Pension Plan Investment Board has plans to buy Parkway, a public REIT with office properties in the Houston area, in a deal valued at $1.2 billion.

The deal helps CPPIB, Canada’s largest pension fund, expand in Houston, where earlier this week it announced a $1.25 billion partnership with Encino Energy LLC that will focus on U.S. oil and gas acquisitions, according to Bloomberg.

Parkway reportedly owns 19 properties in Houston totaling approximately 8.7 million square feet.

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