Canada Pension Plan Investment buys centers for $326.8 million

The Canada Pension Plan Investment Board is acquiring six shopping centers in British Columbia and Ontario, along with a majority ownership stake of 90% in two centers in Quebec. Its total investment for the properties is $326.8 million. Quality regional malls in prime markets rarely come on the market, says Peter Ballon, CPPIB's head of real estate investments for the Americas. "These acquisitions expand our footprint in the Canadian retail sector, which is a strategic asset class within our real estate portfolio."

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