CPPIB to buy into San Francisco office property for $219.1 million
Canada Pension Plan Investment Board (CPPIB) said it will purchase a 45 percent interest in 1455 Market Street, an office property in San Francisco, for US$219.15 million. The transaction results from a joint venture CPPIB has formed with Hudson Pacific Properties Inc (NYSE: HPP), the property's owner since 2010. Hudson will retain majority ownership and continue to oversee management and leasing. CPPIB said the acquisition is its first direct investment in San Francisco office real estate, "one of the best-performing U.S. office markets."
8 January 2015•5 mins read
