0121 568 8793 [email protected]

CPPIB to Invest $396m in Brazil Commercial Property

October 31 2014

The Canada Pension Plan Investment Board (CPPIB) have released a statement on their plans to invest 1 billion Brazillian Reais in commercial property in Brazil. The statement comes just a few months after the Toronto-based pension fund opened an office in São Paulo.

As one of the world’s biggest pension funds, CPPIB has more than $212 billion worth of assets under its belt, primarily focusing on investments opportunities in Brazil, Chile, Columbia, Mexico and Peru.

The investments include the purchase of warehouses, land and stakes in development projects in the logistics and retailing industries, adding to the fund’s portfolio of more than 100 properties in Latin America’s largest economy worth over $1.8 billion.

CPPIB will pay R$ 507 million for 30% in a joint venture with Singapore’s Global Logistic Properties Ltd and another R$ 231 million committed to GLP Brazil Development Partners I, a real estate investment vehicle in which Global Logistic Properties has a 40% stake and CPPIB a 39.6% stake.

The company also pledged to spend R$ 159 million to buy a 25% stake in a São Paulo logistics project alongside Cyrela Commercial Properties SA.

“Brazil remains a key market for CPPIB over the long term and we will continue to seek attractive investment opportunities through our existing partnerships with top-tier local partners while we continue to build our local presence in Sao Paulo,” Peter Ballon, head of CPPIB’s real estate investment in the Americas, said in the statement.

In total CPPIB has committed $5.6 billion to investments in Latin America.

Source: Reuters 

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Brazil homebuilder MRV to boost housing starts after hitting profit estimates

MRV Engenharia e Participações SA, Latin America’s largest homebuilder by units sold, is planning to launch a new round of projects in the coming months.  MRV have reported a first quarter net income of 160 million reais, up 22...

Read More

Stay up to date

Sign up to our monthly newsletter:

Email Address

By signing up to our newsletter you indicate your consent to receiving email marketing messages from us. If you do not want to receive such messages, tick here: 

You can opt out any time via the unsubscribe link at the bottom of our newsletter or click here