Cadillac Fairview Sells 50% Stake In Vancouver Portfolio
Cadillac Fairview has sold a 50% interest in its 4M SF Vancouver portfolio to Ontario Pension Board and the Workplace Safety and Insurance Board, each acquiring a 25% stake. The portfolio includes CF Pacific Centre and 12 "best-in-class" office properties, a “rare collection of trophy assets,” according to CF. OPB CEO Mark Fuller said the deal gives his firm direct exposure to Vancouver’s tightly held real estate market. CF and OPB co-own RBC Centre and TD Centre in Toronto, plus two development properties: 16 York St and 160 Front St W. CF and WSIB co-own Simcoe Place in Toronto.