Cadillac Fairview has bought White City Place from Stanhope, AIMCo and Mitsui Fudosan for approximately £950m.
The firm is the real estate arm of Ontario Teachers’ Pension Plan. The purchase marks their first activity in Europe since 2014.
Cadillac Fairview say that this is the first step in their return to Europe. Stanhope has been appointed the asset manager for the property.
David Camp, chief executive of Stanhope, said: “We are delighted to be working with Cadillac Fairview as their asset manager over the long term to consolidate White City Place as London’s key business and creative district.
“Together with Mitsui Fudosan and AIMCo we have, over the past five years, made significant progress in revitalising White City Place to become a hub for life sciences, innovation and research, alongside the new Imperial College White City Campus.”
