TORONTO, July 8, 2021 /PRNewswire/ -- Canada Pension Plan Investment Board (CPP Investments) and Greystar Real Estate Partners, LLC (Greystar), a global leader in the investment, development, and management of high-quality rental housing properties, have formed a new joint venture to pursue life science real estate development opportunities in target markets in the United States. CPP Investments and Greystar have allocated an initial US$1.2 billion in equity to the joint venture to develop Class-A life science office and lab buildings in leading U.S. life science markets. Greystar will develop and manage the portfolio on behalf of the joint venture.