Goodman Group and the Canada Pension Plan Investment Board (CPPIB) have launched a new logistics and industrial partnership called the Goodman North America Partnership (GNAP).
The companies have targeted an equity amount of $890 million, with Goodman putting in 55 percent and CPPIB at 45 percent.
GNAP’s investment strategy will focus on logistics and industrial property in North America.
Greg Goodman, chief executive officer at Goodman, said, “GNAP further builds on our relationship with CPPIB and reinforces our strategy of matching third-party capital with our development pipeline.”
The transaction is CPPIB’s first direct investment in U.S. industrial real estate.
The Goodman Group is
Australia's biggest industrial real estate investment trust by market value. - Geoff Whiting