Federated Hermes and CPP Investments enter JV for Silverstone Park in U.K.
Federated Hermes, on behalf of the BT Pension Scheme (BTPS), has formed a new partnership with the Canada Pension Plan Investment Board (CPP Investments) to own and develop Silverstone Park, an engineering and technology business park in the United Kingdom. MEPC, the wholly owned subsidiary of Federated Hermes, will continue in its role as development and asset manager, having established the Park during the past eight years on behalf of BTPS, building a strong management team and community relationships.
CPP Investments will commit £135 million (€159 million/$165 million)) to the joint venture and hold a 50 percent interest, with further investment planned to support the future development pipeline of the Park. Silverstone Park stands at 676,000 square feet of income-producing assets leased to a strong and diverse tenant base in addition to 92.6 acres of land upon which has long term development potential for a range of uses.
Silverstone Park is located in the Oxf