CPP in CAN$2bn real estate joint venture

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CANADA - The Canada Pension Plan Investment Board (CPPIB) has partnered with a North American real estate company to acquire all of the shares of commercial real estate company O&Y Properties and the assets and liabilities of its Real Estate Investment Trust (REIT) for a total of CAN$2bn.

Brookfield Properties Corporation announced its bidding consortium, which includes its Canadian-based subsidiary BPO Properties and institutional investors, the largest of which is CPPIB, had enter...

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