Canadian Fund To Invest $355M In US Multifamily Market

Law360, New York (July 24, 2012, 7:09 PM EDT) -- The private investment arm of Canada's national retirement fund will funnel $355 million into the purchase and development of new U.S. multifamily projects, including in California, Texas and Illinois, bumping up its existing investments in the sector by more than half, it announced Tuesday.

Having committed itself to develop five new residential projects, as well as acquiring interests in two existing high-end property joint ventures, Canada Pension Plan Investment Board aims to strike hard as the residential multifamily market heats up, it said.

“We believe that...
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