ST. LOUIS, Jan. 25, 2019 /PRNewswire/ - CIBC and Altus Properties today introduced CIBC Place, the new name for the multi-tenant building at 1401 S. Brentwood Blvd., in St. Louis, formerly known as Magna Place since 1993.

CIBC is the anchor tenant in the building that includes a bank branch, drive-up and ATM. Additionally, CIBC's St. Louis commercial and commercial real estate banking, private wealth and mortgage lending teams are based at this location.

CIBC recently renewed its lease and will expand its presence in the building to better meet the needs of its growing business. New beacon signage is visible from Interstate 64 and Interstate 170.

"St. Louis is an important market for us and we are proud to show our commitment by renaming this building CIBC Place," said Larry D. Richman, President and Chief Executive Officer, CIBC Bank USA.

"We are excited to continue our long-standing relationship with CIBC as the anchor tenant of the newly named property," said Robb Johnson, CEO and Founder of Altus. "CIBC Place is one of the most well-known office buildings in the St. Louis region, and this renewed lease and expansion reflects both the growth of CIBC as well as the prominence of the overall facility."

About CIBC

CIBC (NYSE: CM) (TSX: CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

About Altus Properties

Altus is an investor, developer and operator of real estate with over 5 million square feet of office, industrial, retail and multifamily properties. With a cycle-tested platform dating back to the mid 1960s, Altus' understanding of real estate dynamics allows it to anticipate the needs of its investments – positioning the company to optimize risk-adjusted returns for its private and institutional partners. Visit us at altusproperties.com.

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SOURCE CIBC