The Canadian Pension Plan Investment Board has acquired a 60 per cent stake in Toronto’s Minto High Park Village for $105 million.
It’s the first direct investment in Canadian multi-family real estate by the board and could be the start of an ongoing relationship with the real estate company.
CPPIB’s managing director of real estate investment Peter Balloon told the Financial Post: “With strong population growth and solid rental demand, Toronto is one of the top rental markets in Canada and a key strategic market for us in this sector.”
The pension board is no stranger to the multi-family rental sector; it owns more than 8,000 properties in the U.S.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
