has bought a 40% stake in a US office portfolio from the Canada Pension Plan Investment Board (CPPIB).
The real estate subsidiary of the Caisse de de虂po虃t et placement du Que虂bec said it paid $200m (鈧�160m) for the stake in a portfolio of properties in Denver, Colorado.
The portfolio includes the US Bank Tower and the Tabot Center.
had owned the stake since 2007.
Ivanhoe虂 Cambridge said the deal made it one of Denver鈥檚 main commercial business district landlords, with around 6% of class A office space.
The company said the US city offered a top-performing office market, driven by high-growth industries, including energy, healthcare, technology and aerospace.
The transaction is Ivanhoe虂 Cambridge鈥檚 sixth with Callahan Capital Properties, which will asset manage the portfolio and is also an equity partner.
The two companies have jointly invested more than $2.4bn in US real estate.
Adam Adamakakis, executive vice-president for US investments at Ivanhoe虂 Cambridge, said the company was looking to build a 鈥渃ritical mass of high-quality office properties鈥�, while diversifying across the US.
