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CPPIB spent just over 115 million dollars before closing costs on the two Vancouver offices. Properties for sale continue to be sought after by real estate agents at frasers property .
The other half of the buildings is apparently owned by the Ontario Municipal Employees Retirement System, which is another pension fund under the direction of Oxford Properties.
According to Vancouver realtors and realtor Vancouver groups, the downtown Vancouver market is so attractive, especially the office building market, because these offer secure long term investments.
The recent acquisition brings the total of CPPIB’s investment in downtown Vancouver offices to a total of six buildings. Since these properties so rarely change hands, the deal is considered to be a boon for the board.
CPPIB is also interested in investing in other markets, including the emerging real estate markets of China and Brazil. Nevertheless, the board is likewise still keen to invest more in real estate properties closer to home.
Homes for sale Vancouver and condos for sale Vancouver continue to be sought after, but CPPIB will be keeping its eye on office buildings. So far, the fund has about 14.4 billion invested in real estate, which totals up to be equal to nine and half percent of its total assets.