CPPIB acquires 50% of Australian shopping centre

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AUSTRALIA/CANADA - The Canada Pension Plan Investment Board has bought a 50% stake in an Australian shopping centre for A$455m ($488m).

The pension fund manager bought the 50% interest of the Northland Shopping Centre from the Gandel Group. The other half is owned by Colonial First State Retail Property Trust. Graeme Eadie, CPPI...

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