Originally Published by realty.economictimes.indiatimes.com
CPPIB will initially own 30% of the platform with an equity commitment of around Rs 724 crore. It plans to invest around Rs 1,600 crore through multiple tranches, to own up to a 49% stake in the platform.
MUMBAI: Canada Pension Plan Investment Board and mall developer The Phoenix Mills have entered into a pact to set up a strategic investment platform for retail real estate properties in India. This is CPPIB’s maiden retail real estate venture in India.
CPPIB will initially own 30% of the platform with an equity commitment of around Rs 724 crore. It plans to invest around Rs 1,600 crore through multiple tranches, to own up to a 49% stake in the platform.