Canada Pension Plan invests in US student housing

January 6, 2016

The Canada Pension Plan Investment Board and two partners have reportedly purchased a stake in US university student housing for $1.4 B. CPPIB will own a 49.5% stake in the venture, as will its partner, Singapore’s sovereign wealth fund GIC Pte. The remaining 5% will be owned by the Scion Group LLC. The official statement from the group claims that the investors will work to secure more student housing in the future. Last year, the CPPIB purchased a stake in student housing based in the UK. The current transaction is expected to close in the middle of 2016. Bloomberg | CoStar | Marketwatch