Key Takeaways
- • La Caisse and Hines have completed CIBC SQUARE in Toronto, a fully leased three-million-square-foot campus, according to a Real Estate Toronto report dated September 17, 2026.
- • The project was a long-term partnership between La Caisse and Hines, with South Korea's National Pension Service (NPS) co-investing alongside La Caisse.
- • NPS first committed to Phase I (81 Bay Street) in 2016 and followed with Phase II (141 Bay Street) in 2018.
- • La Caisse reported CAD 552 billion in net assets as at June 30, 2026; Hines reported $91.7 billion in assets under management as at December 31, 2025.
Summary
La Caisse de dépôt et placement du Québec and Hines have marked the completion of CIBC SQUARE, a landmark workplace campus in Toronto, according to a Real Estate Toronto report published September 17, 2026. The project is described as a fully leased three-million-square-foot campus, which the partners present as evidence of sustained demand for highly connected, high-quality workplaces.
The development reflects a long-term partnership between La Caisse and Hines, a global real estate investment manager. Hines describes itself as owning and operating $91.7 billion of assets across property types, on behalf of institutional and private wealth clients, with 4,600 employees across 30 countries. The figure includes both the global Hines organization and RIA assets under management as of December 31, 2025.
South Korea's National Pension Service (NPS), the third-largest pension fund in the world with approximately $1 trillion in assets, partnered with Hines to invest in CIBC SQUARE alongside La Caisse. NPS first committed to Phase I, 81 Bay Street, in 2016, and later committed to Phase II, 141 Bay Street, in 2018.
La Caisse, which manages assets for 48 depositors representing over 6 million Quebecers, reported CAD 552 billion in net assets as at June 30, 2026. Its mandate combines long-term returns with contributions to Québec's economic development. The fund is active across public markets, private equity, infrastructure, real estate and private credit.
The development reflects a long-term partnership between La Caisse and Hines, a global real estate investment manager. Hines describes itself as owning and operating $91.7 billion of assets across property types, on behalf of institutional and private wealth clients, with 4,600 employees across 30 countries. The figure includes both the global Hines organization and RIA assets under management as of December 31, 2025.
South Korea's National Pension Service (NPS), the third-largest pension fund in the world with approximately $1 trillion in assets, partnered with Hines to invest in CIBC SQUARE alongside La Caisse. NPS first committed to Phase I, 81 Bay Street, in 2016, and later committed to Phase II, 141 Bay Street, in 2018.
La Caisse, which manages assets for 48 depositors representing over 6 million Quebecers, reported CAD 552 billion in net assets as at June 30, 2026. Its mandate combines long-term returns with contributions to Québec's economic development. The fund is active across public markets, private equity, infrastructure, real estate and private credit.
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