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CPPIB, GGP Partner To Buy U.S. Malls

The Canada Pension Plan Investment Board has formed a joint venture with General Growth Properties to purchase a stake in two U.S. shopping malls.

    The加拿大退休金计划投资委员会(CPPIB) has formed a joint venture withGeneral Growth Properties(GGP) to purchase a stake in two U.S. shopping malls. Financial terms of the deal have not been disclosed.

    CPPIB will acquire thePlaza Frontenacin St. Louis, Missouri, in which GGP will hold a 55 percent share and CPPIB will hold the rest. The pension fund will also buy a 26 percent stake in GGP’s Saint Louis Galleria mall also in Missouri.

    Click here for the release fromMarket Wire.

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