Canada's National Pension Fund Is Making a $979 Million Apartment Push in the U.S.

(Bloomberg) -- Canada Pension Plan Investment Board is partnering with homebuilder Lennar Corp. in a $979 million joint venture to construct apartment buildings in the U.S. as a housing shortage pushes rents higher. The pension fund, which has increasingly been targeting U.S. rental housing, will own 96% of the venture while Lennar will take the balance, according to a statement Tuesday. [Extracted from the article]