Canadians snap up U.S. commercial real estate at record pace: Reuters

Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada's second-largest pension fund closes a US$2.25 billion deal to buy a landmark Manhattan property, Reuters reported. The deal by Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, and U.S.-based Callahan Capital Properties, to buy the 42-storey 1095 Avenue of the Americas building in Manhattan from Blackstone Group has not yet closed, sources said, but a final announcement should be made in the weeks ahead.

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