14 July 2017
Reporter: Theo Andrew

CPPIB buys 50 percent of UK tech park for $200 million

The Canada Pension Plan Investment Board has acquired 50 percent of Milton Park, a science and technology complex in Oxfordshire in the UK, for $200 million.

Purchased from Hermes Investment Management, the 250-acre park is one of the largest science and technology sites in Europe, home to over 250 companies including spin-off organisations from the University of Oxford.

MEPC Limited will continue to manage the park under the new ownership.

The deal strengthens existing ties between CPPIB and Hermes, who already manage assets in central London, Leeds and Birmingham.

Chris Taylor, head of private markets at Hermes, said: “Recycling capital in this manner allows us to adequately diversify our global portfolio and invest further in existing and new strategic holdings, where we believe additional value can be added in line with our focus on the occupational impacts arising from growing trends of urbanisation, globalisation, technology and demographic shifts.”

Andrea Orlandi, head of real estate investments Europe at CPPIB, added: “We see significant future growth potential at Milton Park as it continues to build on its attractiveness to the life science sector, a major pillar of the thriving Oxford economy.”

The deal comes two days after CPPIB announced a €830 million strategic partnership with Vermilion into natural gas fields in Ireland.

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion