Canada Pension Plan Acquires St. John’s Terminal Mixed-use Complex In Manhattan For $700M

Oxford Properties Group and Canada Pension Plan Investment Board (CPP) have acquired the St. John’s Terminal in Manhattan for a total price of $700,000,000. The mixed-use complex, located at 550 Washington Street, is considered a prime asset in the Manhattan market.

Summary of transaction details

• Property Type: Mixed-use Complex
• Transaction Amount: $700,000,000
• Seller: Westbrook Partners and Atlas Capital Group
• Buyer: Canada Pension Plan Investment Board (CPP) and Oxford Properties Group

The transaction was led by CPP CEO Mark Machin and Oxford Properties' Blake Hutcheson. Oxford Properties Group, a subsidiary of the Ontario Municipal Employees Retirement System, specializes in real estate investment and development. The acquisition of the St. John's Terminal further expands their presence in the Manhattan market.