CPPIB Buys Eight U.S. RE Portfolios
The Canada Pension Plan Investment Board has completed acquisition of eight new real estate portfolios in the U.S.
The Canada Pension Plan Investment Board (CPPIB) has completed acquisition of eight new real estate (RE) portfolios in the U.S. The board has paid $284 million for some of the apartments and has invested about $30 million in one of the offices. The portfolios include the Palazzo Westwood Village, located in Los Angeles, Cadence multifamily development project in San Jose, California, and a multifamily development in downtown Seattle, Washington. Most of the properties have been acquired in joint ventures with Carr Properties and Meadow Partners, among others.
Click here for the release from Market Wire.