CPPIB Pays $386M for Stake in German Shopping Center

The Canada Pension Plan Investment Board said Friday that it paid 270 million euros ($386 million) for a 50% stake in CentrO Oberhausen, a German shopping and leisure center. CPPIB is buying the stake from Stadium Group, a private group of companies that specializes in retail properties, Reuters reported. In an unrelated deal, CPPIB also bought a 36.9% in Mayflower partnership, which owns a portfolio of 13 regional malls located in the United States, Reuters said.

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