The Alberta Investment Management Corp. and the Public Sector Pension Investment Board are partnering with Starlight Group Property Holdings Inc. to acquire a multi-family property in Denver for US$1.3 billion. Besides Denver, the partnership aims to acquire Class A, recently constructed, multi-family communities in the suburban markets of Atlanta; Dallas and Austin, Texas; Orlando and Tampa, […]
The real estate arm of the Ontario Municipal Employees Retirement System will acquire the Sony Center in Berlin for $1.6 billion (1.1 billion euros). In partnership with Madison International Realty, the investment marks Oxford Properties’ first foray into the Berlin market. The Sony Center is a 112,000-square-feet, mixed-used complex in Potsdamer Platz. It comprises eight […]
Pension plans have developed an appetite for real assets in recent years, but what does the term actually include? In response to demands from asset managers for more information about real assets, the S&P Dow Jones Indices created a benchmark index for the area in 2015, said Jodie Gunzberg, the organization’s managing director of product management. “We […]
The Canada Pension Plan Investment Board has completed the sale of its 50% ownership interest in Constitution Square, an Ottawa office property. The property was sold to Greystone Real Estate Strategy and Canderel with net proceeds of about $240 million before closing adjustments. At June 30, 2017, the CPPIB’s real estate assets totalled $40.9 million. […]
While fads usually refer to fashion, food, music and even hairstyles, we don’t often talk about them in the context of investments. Right now, however, mortgage investments are one of the hottest asset classes. One of the first mutual funds in Canada, launched in 1974, was a fund that invested in insured housing mortgages. At the time, […]
Four years ago, some investors were hesitant to invest in India due to poor economic fundamentals, currency depreciation and government bureaucracy. But while many hit pause on making investments, long-term institutional investors like the Canada Pension Plan Investment Board ignored the pessimism and started putting plans in motion for future ventures. “Before [Prime Minister Narendra] […]
Vestcor Investment Management Corp. has posted a 6.16 per cent overall investment return for the year ending Dec. 31, 2016. Formerly known as the New Brunswick Investment Management Corp., it achieved a gross rate of return of 6.53 per cent and a real return of 5.03 per cent, according to its inaugural annual report. The […]
The Canada Pension Plan Investment Board is investing in office properties in Brazil through a deal that includes a new $500-million joint venture. On Wednesday, the CPPIB announced it had acquired a 33 per cent stake in the office portfolio of Cyrela Commercial Properties. In turn, Cyrela has acquired the CPPIB’s 50 per cent equity stake […]
Good deals are hard to find - so you need to look closer.
The Canada Pension Plan Investment Board has announced a $32-million investment to acquire land in Pune, one of India’s largest cities, for retail real estate development. The pension fund made the acquisition through Island Star Mall Developers Pvt. Ltd, a strategic investment platform it established with Indian retail developer the Phoenix Mills Ltd. in April. […]