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Cross Border News  + Canada + Ontario  + Industrial  | 
The Ontario Teachers' Pension Plan's real estate portfolio value declined 5.9% in 2023.

Ontario Teachers’, Boreal Acquire French Data Centre Portfolio

The Ontario Teachers’ Pension Plan and its U.K.-based investment partner Boreal IM have acquired a portfolio of five fully leased data centres in France.

The data centres span 165,000 square metres (177,604 square feet) and are located in the Lyon, Nantes and Lille regions. The deal marks the OTTP and Boreal joint-venture’s second investment in France following the purchase of a standing asset and development plot in Paris in 2023.

All of the newly acquired properties are located near main highways. The JV plans to collaborate with tenants on enhancing the assets’ environmental and social governance credentials.

β€œThis portfolio is a strategic acquisition for the JV, significantly growing our [assets under management] in France and further diversifying our geographic presence,” said Jenny Hammarlund, OTPP’s senior managing director of real estate, in a news release.

The data centres’ tenants are third-party and contract logistics providers. OTTP and Boreal did not disclose details on a seller or financial terms.


Inside The Story

Jenny HammarlundOntario Teachers' Pension Plan Board

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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