Newspaper article The Canadian Press

CPP Investment Board Buys into Portfolio of U.S. Warehouses, Other Properties

Newspaper article The Canadian Press

CPP Investment Board Buys into Portfolio of U.S. Warehouses, Other Properties

Article excerpt

CPP Investment Board buys into U.S. portfolio

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TORONTO - Canada Pension Plan Investment Board is expanding its investments in the United States, including a US$350-million real estate deal.

The transaction will give the Toronto-based fund manager a 10.6 per cent interest in a joint venture involving various logistics properties, such as warehouses and business parks throughout the United States.

One of its partners in the venture is Global Logistics Properties, which acquired its interest in the portfolio in February 2015.

CPPIB says GLP will continue to manage the portfolio for the joint venture, which includes three other institutional investors that weren't identified in the announcement.

CPPIB manages a $268.6-billion fund on behalf of Canada Pension Plan. …

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