CP teams up with developer on real estate assets

Tue Jan 20, 2015 9:23am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO Jan 20 (Reuters) - Canadian Pacific Railway Ltd has agreed to form a joint venture with real estate company DREAM Unlimited Corp to develop some of its surplus real estate.

The railway, which had previously said it was looking at options for land that it owns in several major cities, said DREAM would develop select properties "over the next few years."

The joint venture will focus on a 75 acre site in Chicago called Schiller Park, a 74 acre site near Toronto, 92 acres near downtown Edmonton and 3 acres of land in downtown Montreal. (Reporting by Allison Martell; Editing by Chizu Nomiyama)