CPPIB partners with Hermes Real Estate in new U.K. joint venture
Canada Pension Plan Investment Board (CPPIB) has partnered with Hermes Real Estate in a new U.K.-based regional joint venture. The partnership includes the sale by Hermes to CPPIB of 50 percent of the development phase of Leeds' Wellington Place. Going forward, CPPIB and Hermes will commit equity to the project on an equal basis, with the gross development value to total more than £185 million (around $330 million). In June, CPPIB and Hermes agreed to buy the mixed-use development South Bank Tower in London.
14 November 2014•4 mins read
