U.K. Crown Estate Sells Project Stake to Canadian Fund, FT Says

Dec. 11 (Bloomberg) -- The Crown Estate, which administers property belonging to the British sovereign, sold a 50 percent stake in a 100 million-pound ($158 million) property development to a Canadian pension fund, the Financial Times reported.

Healthcare of Ontario Pension Plan’s purchase of the stake in the St. James’s Gateway development in central London is its first investment in the U.K., the FT said, citing the fund and the Crown Estate.

To contact the reporter on this story: Simon Clark in London at sclark4@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net