Investors in Global Partners and Platforms
The Investments team at Cadillac Fairview evaluates global opportunities on behalf of the Ontario Teachers’ Pension Plan.
Amid a volatile, constantly changing landscape, the value of a diverse portfolio has never been greater. Partnering with leading, best-in-class companies that share in our corporate Purpose, our Values and our commitment to long-term success is foundational to our evaluation of international investments.
Today, our portfolio includes approximately $5 billion of investments in our focus markets outside of Canada, including commitments. Over the next three to five years, we see significant opportunities to operate and invest at scale in the U.S., Latin America, Asia-Pacific, the UK and Europe.
Drawing from a wealth of expertise, our process involves sourcing, underwriting and executing based on a disciplined valuation methodology. This rigorous process enables CF to capitalize on emerging investment opportunities and ultimately generate strong returns for our shareholders.
Boreal IM is a pan-European investment management firm focusing on the UK and pan-European industrial and logistics market. Boreal IM’s leadership team brings, on average, over 18 years of industry experience across all sectors, geographies and transaction types, and have collectively deployed over €3bn of capital in the industrial and logistics sector with some of the world’s largest investors. In 2022, Cadillac Fairview partnered with Boreal to establish a joint venture with commitments of €1bn to assemble a €3bn pan-European logistics portfolio. Leveraging the team’s experience, market knowledge and established networks, the platform targets industrial and logistics assets in the distribution corridors and other sub-markets in the UK and other major European markets such as the Netherlands, Germany, France, Spain and Italy.
Long Harbour is a residential specialist real estate investment, development and management firm in the UK, and has a proven track record of AUM growth across three investment programs; Secured Income, Multifamily and Opportunistic. In 2021, Cadillac Fairview joined Long Harbour and Public Sector Pension Investment Board in a £1.5bn joint venture platform. The platform is focused on multifamily development and is expected to back around eight schemes. The schemes will be around 150 units to 600 units each and will be managed by Way of Life, Long Harbor’s in-house residential management business.
Oxford North is a joint venture between Cadillac Fairview, Thomas White Oxford Ltd, the development company of St John’s College in Oxford, and Stanhope PLC, a UK commercial development and asset management company. The joint venture was formed in March 2022 to develop a new global innovation district in Oxford, UK. The joint venture will invest approximately £700 million to deliver approximately 1,000,000 sqft of laboratory and workspace to enable life-enhancing discovery and innovation, along with amenities, infrastructure and social value over the next several years. Oxford North has been designed by a world-leading team of master planners, architects, and specialist consultants, ensuring it connects and enhances the local area with open spaces, public art, events and culture.
Grupo Sordo Madaleno
Grupo Sordo Madaleno (GSM), based in Mexico, is an internationally recognized architecture and real estate development company with a focus on mixed-use office and retail properties. Cadillac Fairview acquired its initial ownership interest in a joint venture established by the company in 2015. Since then, CF has worked alongside GSM to grow the business and build out the development program. In 2019, CF purchased a 35% direct interest in the Reforma Project, a large mixed-use development in the heart of Mexico City. In early 2021, CF consolidated its investment, alongside GSM and other investors, and became a 19% shareholder in FIBRA SOMA, a company with a portfolio of 13 best-in-class assets.
Multiplan Empreendimentos Imobiliários S.A.
Multiplan is one of the largest owners, operators and developers of high-quality shopping centres in Brazil. Multiplan is publicly listed on the Ibovespa stock exchange in São Paulo under the symbol MULT3. When Cadillac Fairview made its initial investment in 2006, Multiplan had nine shopping centres with a combined owned leasable area of 2.3 million square feet. Since then, the company has grown to 19 shopping centres and two office towers with a total owned leasable area of 7.7 million square feet. Cadillac Fairview currently owns 27% of Multiplan and co-controls the company along with Multiplan’s founder, Mr. José Isaac Peres, who owns a 26% interest.
Golgi Condomínios Logísticos
Golgi is a Brazilian developer and owner of single and multi-tenant Class A industrial warehouses, distribution centres and logistics facilities, formed in 2012 through a joint venture between Cadillac Fairview and Autonomy Investimentos. Golgi operates eight properties with a combined 5.6 million square feet of leasable area and has an additional development pipeline of 10.1 million square feet of leasable area.
Terranum Corporate Properties
Terranum Corporate Properties (TCP) is a private, Bogotá-based real estate company focused on developing, leasing and managing Class A office and industrial properties. Cadillac Fairview acquired an initial stake in the platform in 2013 and currently owns a 52% interest in the company. Since 2013, TCP has developed six projects and its portfolio includes 5.4 million square feet of leasable area, 1.1 million square feet of leasable area under construction and a development pipeline of 3.7 million square feet.
Lincoln Property Company
Lincoln Property Company is the second-largest multi-family manager in the United States, with more than 200,000 units under management, and has a long history as a top-ten multi-family developer. In 2019, CF and Lincoln’s multi-family division closed on a strategic partnership that pursues continued growth of multi-family property management operations and investment activities across the United States. Additionally, in late 2019, Lincoln and CF co-sponsored an $800 million vehicle to invest in U.S. multi-family projects with additional capital from the Investment Management Corporation of Ontario (IMCO). The fund is focused on building a long-term portfolio through developing and acquiring of multi-family assets in high growth markets across the US.
Hines is a privately owned global real estate investment, development and management firm. Founded in 1957, Hines has a presence in 314 cities across 28 countries and oversees investment assets under management valued at approximately US$92.3 billion. In 2021, CF partnered with Hines as a Lead Founding Investor in Hines Asia Property Partners (HAPP), targeting acquisitions of high-quality assets across sectors, with a focus on top-tier markets in Japan, Australia, South Korea, Singapore and China. Additionally, in late 2022, CF and Hines formed a partnership to develop and acquire up to A$1.5 billion of assets in the Australian Build-to-Rent (BTR) sector. The partnership will develop, own and operate best-in-class, international-caliber and purpose-built BTR assets in Sydney, Melbourne and Brisbane.
KDC has been a leading developer of commercial office buildings, corporate build-to-suit facilities and mixed-use projects across the United States for more than 30 years. In 2021, CF acquired a 50% interest in KDC alongside management and its long-standing partner, Compatriot Capital, a wholly owned subsidiary of Sammons Enterprises, Inc. Coinciding with the partnership, CF, Compatriot Capital and KDC closed on an initial US$800 million U.S. commercial office and mixed-use fund, which will serve as a long-term investment vehicle for the partners.
IQHQ is a premier life science real estate development company with offices in San Diego and Boston. IQHQ's focus is to acquire, develop and operate life science properties in the innovation hubs of San Francisco, San Diego and Boston in the United States. In 2020, CF partnered with IQHQ as a strategic investor in the REIT. IQHQ has raised over US$2.4 billion to date to fund existing development projects along with the company’s large and growing pipeline of high quality life science real estate opportunities.