Cadillac Fairview: Transforming communities for a vibrant tomorrow
The investment: In 2000 we completed the acquisition of Cadillac Fairview, one of the largest owners, managers, and developers of commercial real estate in North America.
As long term, global investors, we identified an opportunity in 1999 to acquire full ownership of Cadillac Fairview, a best-in-class real estate business in which we had been the largest shareholder for many years.
While the acquisition was positioned to deliver an attractive return for the active and retired Ontario teachers for whom we invest, our intentions went far beyond that - to further strengthen and grow the business, including through a focus on innovation and responsible operations.
Investing to scale, innovate, and green the portfolio
Through our ownership, significant investment has been made to grow the business and redevelop its portfolio to meet evolving consumer expectations, setting new benchmarks for shopping, dining, workplace design and sustainable operations. Together these investments served to create a premium experience for occupants, clients, and shoppers alike, while furthering the company’s commitment to community and environmental sustainability.
How we’re investing to make a mark
Through our partnership and investment in Cadillac Fairview, we have enhanced its position as a real estate and sustainability leader
- Diversified and grown the business, with more opportunities ahead. Today the business manages >$36 billion in retail, office, residential, industrial, and mix-used real estate across the Americas and in the UK. $5 billion of that is in target markets outside of Canada, and there are significant opportunities over the next three to five years to operate and invest at scale in the U.S., Latin America, Asia-Pacific, UK and Europe.
- Longstanding investment in innovation, including recently through Ravel by CF, a unique platform bringing digital solutions to market to help deliver an omni channel experience to retail and office customers
- Deepened social impact focus, with the articulation of a purpose statement: Transforming Communities for a Vibrant Tomorrow, and a philanthropic strategy aimed at combatting social isolation in Canada via community partnerships and a $1 million commitment
- Ranked first in its peer group and achieved a Green Star ranking for the sixth consecutive year by the Global Real Estate Sustainability Benchmark Survey, the global industry standard for ESG assessment
- Achieved a 42% reduction in both emissions and energy consumption and a 54% reduction in water use since 2008
“OTPP shares CF’s commitment to growth and innovation and it is this alignment that provides a clear roadmap toward recognizing potential as we diversify our portfolio and pursue global opportunities. With our common understanding of the importance of embedding leading sustainability principles and practices into both our day-to-day operations and our planning for the future, CF will continue to transform communities and enhance the connectivity of people within those communities.”
John Sullivan, President & CEO