CPPIB eyes property bargains in U.S., U.K.
Globe and Mail reports: The Canada Pension Plan Investment Board has set aside at least $1.4-billion to hunt for bargains in the top-quality office and retail property sectors in the United States and Britain.
Data show a recent, dramatic slowdown in both office and retail property sales in the U.S. In the third quarter of 2008, $13.5-billion worth of office properties changed hands in that country, the lowest level since 2004, according to research firm Real Capital Analytics. Sales for all of 2008 are expected to be lower than in the first quarter of 2007, according to the company's website.
View the full article on Globe and Mail: CPPIB eyes property bargains in U.S., U.K.
Posted by: Nina Turner