CPPIB to acquire 50 pct of New Zealand properties for $545 mln
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 50 percent stake in a portfolio of office and retail properties in New Zealand from the Public Sector Pension Investment Board (PSP Investments). The interest is valued at about $545 million, with an equity investment of about $216 million. PSP Investments, which bought the assets in 2014, will continue to hold the remaining 50 percent interest. The properties, located primarily in Auckland and Wellington, are managed by AMP Capital.
12 December 2016•2 mins read
