“Cadillac Fairview recognizes the macroeconomic growth and stability of Colombia, as well as Terranum Corporate Properties’ leadership in property development,” said John Sullivan, President and CEO of Cadillac Fairview. “In addition to our capital investment, we are pleased to share our international expertise and experience in property development and management with Terranum, through this partnership.”

This investment will help fund multiple projects in Colombia, including Connecta, one of Bogotá’s largest commercial mixed-use developments, ZOL Funza, one of the country’s largest investment centres in logistics infrastructure, and a tailor-made industrial park located in the free zone of Gachancipá, for Portuguese company Prebuild. Capital will also be injected into new business opportunities being considered by Terranum Corporate Properties in Barranquilla, Medellín and Cali.

“This partnership complements Terranum Group’s strengths, knowledge and experience in the industry, and allows us to remain at the forefront when it comes to our value offerings to customers”, said José Ignacio Robledo, President of the Terranum group. “We are very proud to have a company of Cadillac Fairview’s stature on board to help accelerate our growth in the region.”

Cadillac Fairview joins Terranum Corporate Properties’ current partner, Equity International, a Chicago-based company dedicated to institutional investment management in emerging markets.

“Cadillac Fairview is distinguished for its active global investment approach, and we are delighted to partner with them to augment Terranum Corporate Properties’ leadership in corporate real estate across Colombia and the Andean region,” said Tom Heneghan, chief executive officer of Equity International.

About Cadillac Fairview
The Cadillac Fairview Corporation Limited is one of North America’s largest developers, investors, owners and managers of commercial real estate. For more than 50 years Cadillac Fairview has been leading the way in commercial real estate with innovative design, development and management. Cadillac Fairview is wholly-owned by the Ontario Teachers’ Pension Plan, which invests to secure the retirement income of 303,000 active and retired teachers in Ontario.

About Terranum Corporate Properties
Terranum Corporate Properties, a business unit of Colombian Terranum Group, specializes in the development, structuring and management of sustainable corporate and logistics real estate projects, which are tailor-made to each customer’s requirements and which meet the highest international standards.

Jingrui is a privately held homebuilder based in Shanghai, China. The Company is focused on the middle- and upper-middle income sectors and is one of the leading homebuilders in the Yangtze River Delta region. Jingrui has operations in 10 cities, including large metropolitans such as Shanghai, Chongqing and Tianjin, and Tier 3 cities such as Changzhou, Huzhou, Nantong, Shaoxing, Taicang, Taizhou and Zhoushan. The Company currently has 16 projects under development comprising over 2.8 million square meters of land (30.1 million square feet).

EI originally invested in Jingrui in 2007 based on the opportunity created by the combination of a rapidly growing middle class and significant urbanization trend in China, which drove dramatic growth in the country’s Tier 3 cities, characterized by populations of more than 1 million people each. “Jingrui is known for the quality of its product and its demonstrated ability to acquire land against a competitive backdrop,” said Brad Beanblossom, senior vice president of EI. “Our sale is part of the normal course of EI’s ongoing portfolio management activity and our disciplined monetization philosophy.”

“EI has traveled to China for over a decade and has been invested since 2006. We will continue to monitor the market for opportunities in new and existing sectors,” said Tom Heneghan, EI’s chief executive officer.