Canada Pension Plan Investment Board Acquires Interest in Greenway Plaza and Phoenix Tower

February 7, 2017

S&C represents Canada Pension Plan Investment Board in its agreement to acquire an interest in Greenway Plaza and Phoenix Tower, an office portfolio in Houston, Texas, from Parkway, Inc. for an equity investment of $141 million. As part of the transaction, CPPIB, Parkway, TH Real Estate and Silverpeak Real Estate Partners have agreed to form a joint venture to hold the Greenway Portfolio, with CPPIB and a partnership between TH Real Estate each owning a 24.5 percent interest and Parkway retaining a 51 percent interest.
 
The S&C team on the transaction was led by Arthur Adler, along with Ralston Turbeville, Adam Sofen, Jennifer Warne and Steven Levick.