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Remarkable dealings in the country comprise the Canada Pension Plan Investment Board s (CPPIB) procurement of two city center Toronto s properties worth $220 million from the Ontario Pension Board.
The KingSett Capital led consortium, which consists of certain KingSett Capital managed funds, Ontario Pension Board and RioCan REIT, will acquire 18 Primaris properties pursuant to separate purchase agreements between Primaris and the consortium members.
The survey, completed in November, focused on the four largest pension funds--the Caisse, Teachers, OMERS, the Ontario Pension Board (a public service pension fund whose eight regional shopping centers across Canada represent all of its real estate investment of about Cs85o million out of its C$12 billion in total assets)--as well as Morguard Investments, which represents smaller pension funds.
The increase in monthly distributions was approved at a regularly scheduled meeting of the Distributions Committee and the Board of Trustees and was not undertaken in response to the hostile take-over bid recently announced by a group that includes KingSett Capital, the Ontario Pension Board and RioCan REIT.
As disclosed previously, KingSett and Ontario Pension Board are supported by prominent Canadian real estate investors and operators, including RioCan Real Estate Investment Trust, Canada's largest real estate investment trust.
5, 2012 /PRNewswire/ - A KingSett Capital led consortium that includes Ontario Pension Board today announced its intention to make an all-cash offer to purchase all of the issued and outstanding trust units (the "Units") of Primaris Retail Real Estate Investment Trust ("Primaris") at a price of $26.
The partnership closed on $45 million in non-recourse, construction and take-out debt financing arranged by Stonebridge Financial Corporation with funding provided by the Great-West Life Assurance Company and Ontario Pension Board.