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CPPIB Makes Its First Canadian Multifamily Investment

CPPIB Makes Its First Canadian Multifamily Investment

Canada Pension Plan Investment Board has acquired a 60% ownership interest in Minto High Park Village, a multifamily rental property near Keele and Bloor streets, for $105M. “This marks our first direct investment in Canadian multifamily real estate,” managing director Peter Ballon said, citing Toronto’s strong population growth and “solid rental demand.” Minto Properties will own a 40% interest in the property—which comprises three towers at 111 Pacific Ave, 255 Glenlake Ave and 66 Oakmount Rd, ranging from 12 to 23 storeys, a total of 750 rental units—and will continue to oversee management and leasing.