Ivanhoé Cambridge Continues Push With Silicon Valley Buy
Ivanho Cambridges announcement yesterday that it had acquired73 office buildingsin Silicon Valley (with partners TPG and DivcoWest) is further proof of its strategy to put more money into concrete, less liquid assets like CRE.
Ivanhoe Cambridge--which owns 45% off Steeles Technology Campus (above) here--is the real estate division of Quebecs pension fund manager Caisse de Dpt et Placement du Quebec, which announced in January was increasing its investments in real estate, infrastructure, and private equity by as much as $12B. Its other Toronto holdings: 55 University and Fairview Mall (50%), as well as Vaughan Mills and Oshawa Centre. Ivanhoe Cambridge prez of global investments Bill Tresham says the company is studying many investment opportunities and a variety of development projects in Toronto.
