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Back to Home » December 2016 News » Canada Pension Plan Investment Board Signs Agreement to Acquire 50% Interest in Office and Retail Portfolio in New Zealand |
Canada Pension Plan Investment Board Signs Agreement to Acquire 50% Interest in Office and Retail Portfolio in New Zealand |
December 13, 2016
TORONTO, ONTARIO--(Marketwired - Dec. 12, 2016) - Canada Pension Plan Investment Board (CPPIB) announced today that it has signed an agreement to acquire a 50% interest in a diversified portfolio of prime office and retail properties in New Zealand from the Public Sector Pension Investment Board (PSP Investments). The 50% interest is valued at NZ$580 million (C$545 million) with an equity investment of NZ$230 million (C$216 million) subject to customary closing adjustments. PSP Investments will continue to hold the remaining 50% interest. The portfolio will continue to be managed by AMP Capital, an existing partner of CPPIB in Australia.
Source URL: http://www.marketwired.com/mw/release.do?id=2182509&sourceType=3
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