Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
CPPIB, Goodman announce US$890-million U.S. industrial real estate deal
Original Publication Date: August 9, 2012 9:16AM
Publication Updated: January 9, 2025 5:09AM
TORONTO – The CPP Investment Board is taking part in a US$890-million partnership to develop industrial real estate in the United States.
It’s the fund’s first direct investment in the sector, that it expects to benefit from a recent lack of new supply and growth in global trade.
Global property developer and manager Goodman Group will invest $490 million a 55 per cent stake in the joint venture, called the Goodman North America Partnership.
CPPIB is investing $400 million for a 45 per cent interest.
CPPIB and Goodman have already invested together in Australia, Hong Kong and China.
CPPIB managed about C$161.6 billion in funds at the end of March.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
