Canada Pension Plan Investment Board (CPP Investments) and Greystar Real Estate Partners, LLC (Greystar), formed a new joint venture to pursue multifamily real estate development opportunities in target markets in the United States. CPP Investments has allocated US$ 350 million in equity to the joint venture for a 90% stake, and Greystar has allocated US$ […]
CPPIB Pumps $850 Million Into Hard Assets, Sensing Market Froth The Canadian pension fund formed a joint venture with Greystar Real Estate Partners for multifamily development in the U.S. Bloomberg | Jan 08, 2021
(Bloomberg) Canada’s largest pension plan is expanding its holdings of hard assets, plowing around $850 million into property, wind farms and logistics facilities to kick off the year.
Canada Pension Plan Investment Board has formed a joint venture with Greystar Real Estate Partners to pursue multifamily real estate development opportunities in target markets in the U.S., it said in a statement Thursday. The pension fund is investing $350 million to the joint venture for a 90% stake, and Greystar is adding $39 million for the remaining 10%. Greystar will manage and operate the portfolio on behalf of the joint venture.
Canada Pension Plan Investment Board and Greystar Real Estate Partners have formed a joint venture to pursue multifamily real estate development opportunities in target U.S. markets.