Pension fund targets Brazilian property
A Canadian pension fund could be set to purchase property in Brazil, according to a source.
The Canada Pension Plan Investment Board revealed that it is looking into real estate in several markets, reports Bloomberg.
One area of this is Brazilian property, with Graeme Eadie, senior vice president of real estate for the fund, telling the news provider that the diverse nature of the country and its investment opportunities are a factor behind its interest.
He said that those behind pension plan can see chances for growth in Brazil real estate.
Mr Eadie adds to the source: "The office market is still moving downward, the vacancy levels are still moving up and I think that has a little time to run."
In other news, earlier this week John Howell, a British lawyer and senior partner of The International Law Partnership, writing for the Irish Times, commented that Brazilian property offers some of the best opportunities for investors.
