MGRV and CPPIB Create Joint Venture for KRW 500 billion Seoul Rental Housing Project MGRV announced on the 24th that it will establish a joint venture (JV) with the Canada Pension Plan Investment Board (CPPIB) for a rental housing project worth KRW 500 billion. CPPIB holds a 95% stake while MGRV holds 5%. CPPIB will make its first investment in the Korean residential market through a joint venture with MGRV. The two companies plan to develop rental housing by investing up to KRW 133 billion in Seoul’s major business districts and university areas with this JV. MGRV CEO Cho Kang-tae stated, “With this strategic partnership, we have proven […]