Sep 01, 2016
By Michael Kramer
The Canada Pension Plan Investment Board is buying a 50 per cent stake in a portfolio of office properties – in its latest partnership with OMERS – the pension fund of local government employees in Ontario.
The deal involves seven buildings in Toronto and Calgary – and is worth $1.18-billion dollars.
OMERS owns the properties through its real-estate arm Oxford Properties Group – which will continue to manage them.
The investment wing of the CPP and OMERS already jointly own close to eight-million square feet of office properties.