CPPIB invests further $108 mln in Manhattan office property
Canada Pension Plan Investment Board (CPPIB) has invested an additional US$108 million to increase its ownership in New York City's One Park Avenue to 45 percent. The deal was done through a joint venture with Vornado Realty Trust. Vornado also will manage the office property, which is valued at US$560 million, including the assumption of US$250 million of debt. Another Canadian pension fund manager, the Caisse de dépôt et placement du Québec, also recently acquired commercial real estate in downtown Manhattan.
27 June 2014•2 mins read
