Hudson’s Bay Co. is returning its former stores to landlords, effectively ending a British Columbia billionaire’s fight to take over the collapsed retailer’s leases. Franco Perugini, HBC’s senior vice-president of real estate and legal, said in an email to the Canadian Press that the company is disclaiming the leases it had for 25 properties that […]
Real estate investment trusts are offering Canadian pension funds diversified commercial real estate exposure during uncertain period for overall real estate strategy, says John Worth, executive vice-president of research and industry outreach at the National Association of REITs. The investment vehicle is increasingly providing investors with access to new and emerging property sectors like data […]
Public equities account for, on average, 42 per cent of asset owners’ portfolios, according to a new report by Northern Trust Corp. The report, based on a survey of 180 global asset owners with investment portfolios ranging between US$1 billion and US$500 billion, found stocks were followed by fixed income (27 per cent) and private […]
The Ontario Teachers’ Pension Plan is selling its stake in Copenhagen Airports A/S to co-shareholder Arbejdmarkedets Tillægspension. The Denmark-based investor has been a joint venture partner with the investment organization and co-owner of the airport since 2017. The financial details of the transaction weren’t disclosed. “We would like to thank ATP for their collaboration and […]
The pullback from traditional lenders in the real estate market is poised to create a serious need for capital. “To a certain extent, banks [and other large capital providers] have generally been overexposed to real estate,” said Ken McKinnon, senior managing director and equity partner at Institutional Mortgage Capital, during a session at the Canadian […]
The Canada Pension Plan Investment Board is creating a new joint venture alongside Cyrela Brazil Realty to explore opportunities in the Brazilian real estate market. The two partners have established an investment target of $400 million, primarily to develop residential condominiums in São Paulo. In a press release, Ricardo Szlejf, managing director and head of […]
The Canada Pension Plan Investment Board is investing $1 billion in Korea-based data centres through its joint venture with the Pacific Asset Management Co. “The demand for data centres in [the Asia-Pacific region] has been on the rise, driven by the continued need for cloud computing and the increasing global adoption of artificial intelligence,” said […]
The Canada Pension Plan Investment Board is investing roughly US$515 million to acquire a 24.5 per cent stake in video games service provider Keywords Studios. The acquisition of the Ireland-based firm is being completed alongside EQT AB and Temasek Holdings Ltd. In a press release, Caitlin Gubbels, senior managing director and head of private equity […]
The Caisse de dépôt et placement du Québec is investing $60 million in the first round of a private equity fund created by BDG & Partners Financial Corp. The fund, which has so far raised $240 million, aims to acquire controlling interests of Canadian mid-sized companies operating in manufacturing, food, distribution and specialized services, according […]
The Ontario Teachers’ Pension Plan’s U.K. real estate partner has signed Imperial College London as a tenant at its White City Place development. The academic institution will occupy a 47,650 square-foot space for a new professional services hub in London. The financial details of the transaction weren’t disclosed. “Imperial’s decision to become a tenant in […]