Canada Pension Plan Investment Board, which bought a troubled Scottish shopping mall on Monday, said more high-quality real estate would likely come available in key markets in the coming year.
The real estate arm of the CPP Investment Board and Hammerson PLC (HMSO.L), an Anglo-French property investor, bought the Silverburn shopping center near Glasgow from receivers for 297 million British pounds ($479 million) in a 50/50 joint venture.
The acquisition of the mall after its builder went into bankruptcy highlights opportunities in real estate in major economies around the world after the sector was pummeled by the global financial crisis.
