CPP Investments increases stake in Bullring Shopping Centre

On July 26, 2022, CPP Investments announced that it increased its ownership stake in the shopping centre from 16.7% to 50% with the acquisition of an additional 33.3% stake from Nuveen Real Estate.  Following this acquisition, CPP Investments' total exposure to Bullring will be approximately £280 million (C$432 million).

Hammerson plc (“Hammerson”) will continue to undertake all asset management activities at the shopping centre.

Further information can be found on Canada Newswire’s website.

Located in Birmingham's city centre, Bullring is one of the largest shopping centers in the U.K., spanning 1.4 million square feet with approximately 180 retail and hospitality tenants of leading brands and experiences on offer, with Selfridges as a key anchor tenant.

CPP Investments is a professional investment management organization that manages the Fund in the best interest of the 21 million contributors and beneficiaries of the Canada Pension Plan. At March 31 2022, the Fund totalled C$539 billion.

Nuveen Real Estate is one of the largest real estate investment managers in the world with US$142 billion of assets under management.

Hammerson owns, operates and develops sustainable prime urban real estate, creating vibrant, continually evolving spaces, in and around thriving European cities, with a focus on flagship retail destinations and premium outlets.