NEW YORK, NY – Investment management firm, Canada Pension Plan Investment Board (CPP Investments) and the wholly-owned subsidiary of Lennar Corp., LMC have formed a $979 million joint-venture to develop class A multifamily communities in major US markets.

CPP Investments will own a 96% stake in the joint-venture, while LMC will own the remaining 4%.

The partnership will develop urban and suburban communities situated across high-growth metropolitan markets in the US.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.