Continually diversifying and actively seeking out unique international investments, the CPP has purchased 50% of a mall in the UK for less than the original cost. This purchase represents a 25% increase in the CPP’s UK real estate holdings. For the sake of all Canadians’ retirement savings, let’s hope that the rents at this mall can, in fact, be increased! Let’s also cross our fingers that the UK market has already bottomed out.
Canada Pension Plan lands U.K. mall in distress sale
(Source: Financial Post / Summary by BuzzBuzzHome)
Read the full article by Karen Mazurkewich, “CPP Lands U.K. mall in distress sale” in the Financial Post (Dec 22, 2009).