CPPIB Sold 45% Stake in 1221 Avenue of the Americas to Chinese SWF
Posted on 12/28/2016
On December 23, 2016, the Canada Pension Plan Investment Board (CPPIB) announced that it has sold its 45% ownership interest in a Manhattan 50-storey office property, 1221 Avenue of the Americas (1221), to an Asian sovereign wealth fund for US$ 1.03 billion, with net proceeds to CPPIB of approximately US$ 950 million before closing adjustments. […]
