The pension fund recycles capital after a 10-year build-to-rent partnership
A decade-long bet on London rental housing has paid off for Canada's largest pension fund manager, which will recoup about $670m by selling its stake in a 904-home portfolio it helped build from the ground up.
CPP Investments and international real estate group Lendlease sold the build-to-rent portfolio at Elephant Park in Elephant & Castle to rental housing investor Greystar.
CPP Investments will receive net proceeds of roughly $670m and Lendlease about A$260m, with the transaction expected to close by the end of June 2026, subject to customary closing conditions.
Tatsiana Okun, associate general counsel at CIRO, called the Hearings Assistance Program for self-represented respondents "an important development in strengthening the integrity of CIRO's disciplinary process."
It will give respondents "external and independent support," she said, helping them navigate the proceedings.
CPP Investments continues to view residential real estate as "an attractive sector," Jackson said, including student, single-family and senior housing.
The view rests on "structural housing demand, demographic trends" and demand for high-quality, professionally managed rentals in major urban markets, he said.
CPP Investments and Lendlease first invested in 2015 through their build-to-rent partnership.
The pair delivered four purpose-built rental buildings within the £2.5bn Elephant Park regeneration scheme, completed between 2021 and 2024.
The buildings offer studios through to three-bedroom homes alongside fitness facilities, co-working spaces and landscaped gardens and all four hold EPC B ratings and WELL certification.
The portfolio sits four minutes on foot from Elephant & Castle station, with direct connections to the City of London and the West End.
Over the partnership, the two firms worked to support the delivery, lease-up and stabilization of the portfolio and to contribute to the regeneration of the Elephant & Castle area.
Greystar funded the deal through its Greystar Equity Partners Europe II fund, which reached final close earlier this month at more than €2.7bn in total commitments making it the largest pan-European value-add residential fund ever raised.
The fund holds more than €6.8bn of investment capacity across European markets.
