Transaction marks a 34 per cent decline in property’s value over 13 years. A CPP Investments spokesman says the sale exceeded ‘independent valuation,’ and was ‘a clear win.’
The investment management arm of the Canada Pension Plan recently sold its head office building in downtown Toronto at a $74.5-million loss, the Star has learned, as the pension fund prepares to move to one of the most expensive office towers in the city.
According to a summary of the transaction by data analytics company Altus Group, CPP Investments sold the property to Infrastructure Ontario — another Crown corporation — for $145.5 million on May 14.
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CPP Investments reports C$793.3 billion in assets, emphasizing India as a key focus for growth and investment strategy.
