CPPIB acquires 49 pct interest in Chinese shopping centre
Canada Pension Plan Investment Board (CPPIB) and Longfor Properties Co Ltd have entered into a second joint venture to invest in Chongqing West Paradise Walk, a shopping centre in China. As part of the deal, CPPIB will commit about $193 million to acquire a 49 percent interest in the property. Last year, CPPIB announced its first joint venture with Longfor, a retail mall developer and operator. It saw the pension fund commit $234 million to support a mixed-use real estate project in Suzhou, which included the development of a Paradise Walk mall.
20 October 2016•4 mins read
