Staff
The Canada Pension Plan Investment Board (CPPIB) and GE Capital Real Estate have formed a joint venture to invest in Tokyo office buildings.
They will make an initial investment of US$403 million to purchase mid-size commercial properties in the city’s central business district.
CPPIB will own a 49% in the joint venture with GE Capital Real Estate owning the rest.
“This opportunity provides us with an attractive entry point to the Tokyo office sector and supports our strategy to expand our real estate portfolio in Asia,” says Graeme Eadie, the board’s senior vice-president and head of real estate investments.
GE Capital Real Estate has been managing real estate properties in Japan since 1998.
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