Investing.com - Financial Markets Worldwide
📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

CPPIB buys stake in medical office buildings in California

Published 2015-08-04, 08:40 a/m
© Reuters. CPPIB buys stake in medical office buildings in California
WELL
-

TORONTO, Aug 4 (Reuters) - The Canada Pension Plan
Investment Board said on Tuesday it had formed a joint venture
with Health Care REIT Inc (NYSE:HCN) HCN.N , which operates senior housing
centers in the United States, to hold a portfolio of medical
office buildings in Southern California.
The Toronto-based pension fund manager will own a 45 percent
stake in the joint venture. Health Care REIT, which is selling
the assets into the venture, will own the remaining 55 percent.
"This acquisition marks our entry into the health care real
estate sector, a growing and compelling sub-sector within the
real estate market," Peter Ballon, CPPIB head of real estate
investments in the Americas, said in a statement. "With an aging
population and increasing demand for health care, we view the
U.S. health care real estate sector as an attractive long-term
investment."
The portfolio, valued at $449 million, consists of medical
office buildings in and around Beverly Hills, San Diego and Los
Angeles.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.