One of North America’s largest commercial real estate firms with a history in Dallas has opened a new office here.
Toronto-based Cadillac Fairview Corp is owned by the Ontario Teachers’ Pension Plan and operates over $ 36 billion in real estate in the Americas and the United Kingdom.
A real estate titan from Canada has just acquired a 50% stake in one of the largest real estate development companies in North Texas, KDC.
And now Cadillac Fairview is opening an office in the Uptown Dallas area.
“We can confirm that Cadillac Fairview rented premises at 2000 McKinney Avenue in Dallas,” a firm spokesman said in an email. “As part of our growth strategy, we are creating a dedicated US real estate team based in Dallas.
“They will be focused on operating and expanding our presence in the region, as evidenced by our ongoing investment in the Lincoln Property Co. residential platform, as well as our recent acquisition of a 50% stake in KDC.”
Four decades ago, Cadillac Fairview had a huge presence in Dallas, where it was headquartered in the United States.
The company has built three high-rise buildings with offices in downtown Dallas and other projects in the suburbs.
The downtown Cadillac Fairview buildings included the 60-story Comerica Bank Tower on Main Street and the 1700 Pacific Tower.
The developer has long since sold the property in the area.
But the Cadillac Fairview was an investor in Lincoln Property Co. from Dallas to residential projects in the USA.
And this week, Cadillac Fairview announced a new venture with Dallas-based developer KDC to create a $ 800 million fund to fund new mixed-use projects.
KDC has built huge office townships in North Texas for companies like Toyota, JPMorgan Chase, State Farm Insurance and others.
KDC is currently working on two multifunctional multi-story developments in the Uptown Dallas area.