Indian-origin billionaire Pallonji Shapoorji Mistry added $2.8 billion to his wealth last year, helped by a 73 percent surge in Tata Consultancy Services Ltd. that was the best performance in the S&P BSE Sensex index.
The Canada Pension Plan Investment Board agreed to pay $1.8 billion for a stake in 10 U.S. shopping malls and two redevelopment sites owned by Westfield Group as part of a joint venture with the Australian landlord.
SL Green Realty Corp. , New York’s biggest landlord, agreed to sell its minority stake in McGraw- Hill Cos. headquarters building in Midtown for $576 million to help pay for purchasing two other Manhattan office towers.
Westfield Group said it had formed a $4.8 billion joint venture with the Canada Pension Plan Investment Board and plans to buy back as much as 10 percent of its stock, sending its shares up the most in 2 1/2 years.
Lend Lease Group, Australia’s biggest property developer, secured A$2 billion ($2 billion) in commitments to develop the first two towers at its Barangaroo South site, including investments from retirement plans and its own property fund.
Global Logistic Properties Ltd., the overseas logistics unit of the Government of Singapore Investment Corp., said it formed a joint venture with the Canada Pension Plan Investment Board to invest in warehouses in Japan.