CPPIB Makes Move into Asturias Shopping Centre

The Canada Pension Plan Investment Board (CPPIB) and Intu Properties PLC, a large UK-based shopping center owner, have entered into an agreement with Sonae Sierra and CBRE Global Investors to purchase Parque Principado Shopping Centre to the tune of €162 million (US$ 220 million).

For David Fischel, CEO of Intu Properties, the potential for profit that the acquisition represents isn’t the only attractive feature of the transaction. “A further positive feature of the acquisition is entering into partnership with a major and highly regarded global investor, CPPIB, and we look forward to extending this relationship,” he said in a statement.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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