CPPIB partners with Cortland, GIC in $500 mln U.S. real estate JV
Canada Pension Plan Investment Board has partnered with U.S. real estate investment firm Cortland Partners and Singapore sovereign wealth fund GIC in a joint venture targeting US$500 million to U.S. multifamily real estate investments. CPPIB and GIC will each own a 45 percent interest in the joint venture, with Cortland holding 10 percent. The joint venture has initially acquired three Class B garden-style rental communities in Denver, Colorado, Raleigh, North Carolina and Austin, Texas. It will pursue additional opportunities primarily in the Southern and Southeastern United States.
9 January 2018•4 mins read
