The Canada Pension Plan Investment Board (CPPIB) has formed a joint venture with General Growth Properties (GGP) to purchase a stake in two U.S. shopping malls. Financial terms of the deal have not been disclosed.
CPPIB will acquire the Plaza Frontenac in St. Louis, Missouri, in which GGP will hold a 55 percent share and CPPIB will hold the rest. The pension fund will also buy a 26 percent stake in GGP’s Saint Louis Galleria mall also in Missouri.
Click here for the release from Market Wire.
