CPPIB-backed SPREP to complete first property acquisition in India
SPREP Pte Ltd, a company formed in 2013 by Canada Pension Plan Investment Board (CPPIB) and Shapoorji Pallonji Group, has announced its first acquisition. SPREP has agreed to acquire Faery Estates Private Ltd, the owner and operator of SP Infocity IT Park in Chennai, India. The property has been valued at about US$220 million. SPREP was established to invest in office buildings in major metropolitan areas of India. CPPIB owns 80 percent of the venture with an initial equity commitment of US$200 million.
23 June 2015•3 mins read
