Canadian investor Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, has acquired a 25% stake in UK developer and asset manager Stanhope PLC.

This consolidates a successful and expanding partnership between Cadillac Fairview and Stanhope in delivering life sciences and workspace projects in the UK, together with broader masterplans. The partners are already working together on three life sciences projects – Oxford North, Cambridge Science Park and White City Place.

In April this year, a joint venture between Cadillac Fairview and Stanhope bought 70 Gracechurch Street, a prime office building situated in the City of London, which has planning consent for a 34-storey tower and 600,000 sq ft development.

Cadillac Fairview joins Mitsui Fudosan and AIMCo as shareholders in Stanhope who between them now own 80% of the company, leaving David Camp and others in the management team with a 20% shareholding.

Stanhope will continue to be management run providing development management services to a wide range of key clients and David Camp will remain as Chief Executive.

Jenny Hammarlund, Head of Europe and Managing Director at Cadillac Fairview said:

“Cadillac Fairview is delighted to acquire a 25% stake in our long-term existing partner Stanhope alongside Mitsui Fudosan and AIMCo. As we continue to grow our investment portfolio across the UK and Europe, it makes sense to invest both with and in partners like Stanhope who share our desire to deliver life sciences projects and develop innovation clusters, sustainable communities and workspaces across the UK.”

David Camp, Chief Executive of Stanhope said:

“This investment in Stanhope by Cadillac Fairview cements an already strong and growing partnership in developing a strategic life sciences portfolio and assets. We already have joint ventures together in life sciences and a high-quality workspace.

Cadillac Fairview join our existing shareholders and partners, Mitsui Fudosan and AIMCo, and together with our first class team and strength in depth we make a formidable team.”

Cadillac Fairview

Cadillac Fairview (CF) is a globally focused owner, operator, investor, and developer of best-in-class real estate across retail, office, residential, industrial and mixed-use asset classes. Wholly owned by the Ontario Teachers' Pension Plan, CF manages in excess of $42 billion of assets across the Americas and the United Kingdom, with further expansion planned into Europe and Asia. Internationally, CF invests in communities with like-minded partners, including Boreal in the UK, Lincoln Property Company in the U.S., and Multiplan in Brazil. The company's Canadian portfolio comprises 68 landmark properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.

Continually striving to make a positive impact in communities where it operates by promoting social connection, growth, and a sustainable future, CF's Purpose is Transforming Communities for a Vibrant Tomorrow. For more information, visit www.cadillacfairview.com.

Stanhope PLC

Stanhope PLC are trusted partners creating sustainable buildings and urban places. The company is known for the quality of its research, for driving excellent design and for innovative responses to occupier requirements. Stanhope has over 35 years’ experience working in partnership with communities, landowners, investors and occupiers and has delivered projects in excess of £27bn. Recent projects include White City Place and Television Centre, which have created over 4m sq ft contributing to the regeneration of White City including c.950 new homes, workspace, a hotel, studio space and leisure facilities. Other recent schemes include Bloomberg London, Angel Court and Tate Modern 2. Stanhope has been selected as preferred partner to develop the British Library extension creating new gallery, learning and event spaces enabled by 700,000 sq ft of commercial accommodation for knowledge quarter organisations. Stanhope has also been selected as Development Partners for Guy’s and St Thomas’ Charity to bring forward a development on a 5.5 acre site opposite St Thomas’ Hospital and close to Waterloo Station.

For more information, visit www.stanhopeplc.com, this will open in a new tab.