Serving the Loop and Near North neighborhoods of downtown Chicago
Mounties pension fund invests in Marina City owner

May 22, 2010 – A corporation in Canada that manages the pension funds of Canadian armed forces and the Royal Canadian Mounted Police has put money into the real estate investment trust that owns Hotel Sax and commercial property at Marina City.

Public Sector Pension Investment Board, also known as PSP Investments, bought 843,365 “cumulative redeemable preferred shares” from LaSalle Hotel Properties on May 14. The shares can be redeemed after a certain date for a fixed amount. The number of shares represent 13.3 percent of outstanding shares LaSalle had in July 2009, according to a document filed with the U.S. Securities and Exchange Commission.

Royal Canadian Mounted Police

Annual net contributions to the Canadian pension funds that PSP manages are approximately $4 billion.

(Left) The Royal Canadian Mounted Police, Canada’s national police force.

Will Illinois homeowners finally get relief from soaring insurance costs?
Will Illinois homeowners finally get relief from soaring insurance costs?
Chicago landlords ask: Is owning rental property even worth it anymore?
Chicago landlords ask: Is owning rental property even worth it anymore?
Old Town’s historic Wacker House defaced by unpermitted work, preservationists say
Old Town’s historic Wacker House defaced by unpermitted work, preservationists say
Both accomplices in 2023 River North garage robbery back behind bars
Both accomplices in 2023 River North garage robbery back behind bars
North Side real estate: Buyers pay record prices as inventory plummets
North Side real estate: Buyers pay record prices as inventory plummets
Real estate investment, cultural events fuel Q2 Loop growth
Real estate investment, cultural events fuel Q2 Loop growth
Is gentrification really Chicago’s villain? The hidden upside to rising property values
Is gentrification really Chicago’s villain? The hidden upside to rising property values
Bike lane boom or business bust? Critics push back on Chicago’s cycling grid
Bike lane boom or business bust? Critics push back on Chicago’s cycling grid
Bally’s vs. City Council: Did Chicago’s casino contract deal the city a bad hand?
Bally’s vs. City Council: Did Chicago’s casino contract deal the city a bad hand?
The art of slow travel: Finding serenity and simple pleasures in Shipshewana
The art of slow travel: Finding serenity and simple pleasures in Shipshewana
ChicagoFilming.com Chicago MLS Pro Aqua Condo Homes Marina City Condo Homes Chicago MLS Pro