The Canada Pension Plan Investment Board is increasing its stake in a French airport operator.
The investment organization is acquiring a 1.59 per cent share of Aéroports de Paris from the Royal Schiphol Group. The move will grow the CPPIB’s total ownership stake in ADP to about 5.64 per cent.
ADP owns and operates three international airports in the Paris region — Charles de Gaulle Airport, Orly Airport and Le Bourget Airport. It also holds a minority stake in a network of 25 airports worldwide.
In other news, Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, is part of a joint venture acquiring an industrial park in Balzac, Alta.
The investment organization and Hopewell Development Corp. have acquired Rosemont Business Park, a 59-hectare site located in the Calgary area. The move is part of a strategy targeting Canadian industrial sites in close proximity to growing communities, according to a press release, which noted Hopewell plans to construct up to five buildings on the property with 21,350 square metres of leasable area. The development is expected to be completed in 2029.
In the release, Wayne Barwise, executive vice-president of development at Cadillac Fairview, said the site was located in a promising region. “Major players such as Walmart [Inc.], Sobeys [Inc.] and [the] Home Depot [Inc.] all have distribution hubs nearby and Calgary is emerging as a robust-growth, up-and-coming market for key logistics uses, with limited inventory available in the foreseeable future to meet increased demand.”