The pension plan has been using its Cadillac Fairview division as its main avenue to invest in real estate, but says it plans to instead create an in-house group to oversee its global real estate investing and portfolio management.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
As part of the changes, the pension plan will bring 37 of Cadillac Fairview’s real estate professionals to the organization. The shift, expected to be in place by the start of next year, will leave Cadillac Fairview to focus on developing its Canadian real estate portfolio that is heavily concentrated in malls.
The moves come as Cadillac Fairview president and chief executive John Sullivan announced he plans to retire on Nov. 1, to be replaced by Salvatore Iacono, who currently serves as its executive vice-president of operations.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »
Source: financialpost - 🏆 7. / 85 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »