The Canada Pension Plan Investment Board is supporting an effort to spin off the steel-making side of an investee mining company despite previously saying it would oppose the measure. The board-backed proposal, which was approved at Teck Resources Inc.’s annual general meeting, called for the company to consider spinning off its steel-making business as a […]
Foreign players steady office market
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Foreign funds and institutional buyers are expected to play a leading role in the commercial office market this year after accounting for their largest share yet in tower deals in 2020.
The increased investment role for foreign players over the past year was achieved despite the restriction on offshore capital posed by the COVID-19 disruption and a more onerous Foreign Investment Review Board approval process.
Oxford Properties’ Pitt Street north tower comprises 47,800 square metres of office space.
Investment in office towers fell to its lowest level since 2012, to about $10.9 billion for Australia and New Zealand combined. In the Australian market, office tower transactions fell by more than half over the previous year.