CPPIB JV buys U.S. student housing portfolios for $1.6 bln: Reuters
Canada Pension Plan Investment Board (CPPIB), Singapore's sovereign wealth fund GIC and property owner Scion Group LLC said their joint venture had bought three U.S. student housing portfolios for about US$1.6 billion, in its second major deal in the United States, Reuters reported. CPPIB and GIC will each own a 45 percent stake in the three portfolios and Scion Group will own the remaining 10 percent. The investors said their joint venture, Scion Student Communities LP, plans to buy more student housing properties in the United States.
16 March 2017•1 min read
