Cadillac Fairview Acquires a 50 Percent Interest in KDC

Marking a new chapter in KDC’s growth, Cadillac Fairview has acquired a 50 percent interest in KDC alongside management and its longstanding partner, Compatriot Capital, a wholly owned subsidiary of Sammons Enterprises Inc. Cadillac Fairview is the global real estate arm of the Ontario Teachers’ Pension Plan, which has more than $200 billion of assets.

“This is an exciting time in KDC’s history as we join with two like-minded companies that also have a strong commitment to developing offices for Corporate America and expanding our platform to include more mixed-use development and acquisitions in target markets,” said Toby Grove, president of KDC.

KDC will continue developing corporate office facilities across the country while also focusing on the development and acquisition of mixed-use projects. Coinciding with the partnership, Cadillac Fairview, Compatriot Capital and KDC have closed on the initial $800 million U.S. commercial office and mixed-use fund. The fund will serve as a long-term investment vehicle for the partners, bolstering the combined portfolio of class-A office and mixed-use properties.

“This partnership represents a shared vision to build a premier business in the development and ownership of office and mixed-use properties, an asset class that is particularly dynamic and exciting in today’s economy,” said Mark Van Kirk, president of Compatriot Capital.