CPPIB, Goodman announce US$890-million U.S. industrial real estate deal | iNFOnews

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CPPIB, Goodman announce US$890-million U.S. industrial real estate deal

August 09, 2012 - 4:16 PM

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, 2012
The Canadian Press

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