CPPIB Takes 50% Stake In Oxford’s Richmond-Adelaide Centre
Canada Pension Plan Investment Board has significantly expanded its Canadian office holdings with the $1.18B acquisition of a 50% interest in a 4.2M SF Oxford Properties Group portfolio. The deal includes Toronto’s Richmond-Adelaide Centre, a 2.4M SF, five-tower complex (its latest addition, EY Tower, is above right). CPPIB also acquired stakes in Calgary’s Centennial Place and Eau Claire Tower, two Oxford-developed properties totalling 1.8M SF. Oxford will continue to manage the properties for the partnership, whose jointly owned office portfolio is now over 12M SF.