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Goodman, CPP Increase Equity Commitment to $5.5B in U.S. Logistics Partnership
Goodman Group and Canada Pension Plan Investment Board have committed an additional $2.5 billion in equity to the Goodman North American Partnership, increasing their total equity commitment to US$5.5 billion. Goodman will allocate $1.4 billion and CPP Investments $1.1 billion.
The Goodman North American Partnership was established in 2012 to invest in high-quality logistics and industrial property in key North American markets. With an initial commitment of US$890 million, the Partnership’s assets have grown to approximately US$3 billion.
“The Partnership continues to build scale in select U.S. logistics markets, including Los Angeles, Southern California’s Inland Empire and the New Jersey industrial markets, totaling over 16 million square feet of assets under management,” said Anthony Rozic, CEO at Goodman North America.
“Our portfolio is concentrated in key urban locations close to large consumer populations, and allows our customers to meet growing consumer demands for faster last-mile delivery. Having acquired over 200 acres in key infill locations in the last six months, the Partnership has the momentum, expertise and capital to continue acquiring and developing new properties in our target markets.”
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