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LONDON-A joint venture of two pension funds, Australia-based APG and the Canada Pension Plan Investment Board, has agreed to pay $1.4 billion for a 50% interest in the retail portion of Stratford City. Westfield is investing $2.3 billion on the large mixed-use project, of which the retail portion will encompass 1.9 million square feet.

The value of the property is raised by being the gateway to London Olympic Park, which will host the Olympic and Paralympic Games in 2012. About seven million people spectators are expected to pass through the Stratford City project during the Games, according to a Westfield statement.

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