MONTREAL – Ivanhoe Cambridge said Wednesday that it has spent more than $150 million to buy four multi-residential rental properties in some of London’s most prestigious neighbourhoods.
The real estate subsidiary of the Caisse de depot et placement du Quebec said the properties include 207 units in the heart of London including South Kensington, Hyde Park, Bayswater and Marylebone.
Get weekly money news
Ivanhoe Cambridge has also signed a partnership deal with Residential Land, a London-based real estate firm, and Apollo Global Real Estate Management.
The agreement gives Ivanhoe Cambridge, the majority partner, an opportunity to invest in the acquisition of other residential buildings exclusively with Residential Land and Apollo Global Real Estate Management.
In December, Ivanhoe Cambridge acquired an apartment complex in San Jose, Calif., for US$235 million.
Ivanhoe Cambridge has assets in 24 countries valued at over $30 billion.
The Caisse manages funds primarily for public and private pension and insurance plans.
Comments
Want to discuss? Please read our Commenting Policy first.