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Canada Pension buys into Melbourne complex

Reported by AAP
Wednesday, June 1, 2011
Topics in this article:
Commonwealth Bank Of Australia.,Cfs Retail Property
Companies forced to change their nameConflict in Iraq and Syria is causing serious headaches for companies who happen to share the ISIS moniker

The Canada Pension Plan Investment Board has bought a 50 per cent interest in Melbourne's Northland Shopping Centre for $455 million from private property company Gandel Group.

The other 50 per cent of Northland, which is a 92,380-square-metre regional shopping centre, is owned by Colonial First State Retail Property Trust (CFX).

Colonial First State Global Asset Management, which manages CFX and is a part of Commonwealth Bank of Australia Ltd, will continue to manage Northland.

The Gandel Group is owned by property billionaire John Gandel and has a 26 per cent stake in CFX.

31/10/2014 18:40Sydney, Australia. 31 October,2014
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