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Pension Board Invests $355M in US Apartments

TORONTO-The CPPIB is approaching $1 billion invested in the US multifamily sector with this multi-venture buy-in at seven properties in three states.

By Robert Carr | Updated on July 24, 2012

TORONTO-Fresh off a $2 billion office joint venture announcement this month, the locally based Canada Pension Plan Investment Board says it is investing $355 million into seven US properties. The multifamily assets, both existing and under development, are located in the San Francisco, Chicago and Dallas markets.

The pension board covers about 18 million Canadian contributors and beneficiaries, with a fund totaling about $162 billion as of April. In early July, the board completed its largest real estate investment to date when it formed a joint venture with Lend Lease Corp. to develop and hold two office towers for $2 billion

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