Assiniboia Sells Farmland Portfolio to CPPIB

Assiniboia Farmland Limited Partnership, Canada's largest farmland investment fund measured by acres, completed a sale of its farmland portfolio to Canada Pension Plan Investment Board (CPPIB) for a purchase price of approximately $128 million, subject to final adjustments. The portfolio includes approximately 115,000 acres of farmland located throughout Saskatchewan.  The existing management team will continue to manage the portfolio.

Assiniboia Farmland Limited Partnership was advised by McKercher LLP with a team led by Patricia Warsaba, John Pringle, Christopher Masich and Joseph Gill.

CPPIB was advised by a legal team from Torys LLP including David Dell, Neville Jugnauth, John Cameron and Nooreen Bhanji; local Saskatchewan counsel Robert Thornton of Stevenson Hood Thornton Beaubier LLP; and tax advisors Ian Crosbie and Andrew Ellis from Davies Ward Phillips & Vineberg LLP.