Skip to main content

The Globe and Mail

CPPIB, Goodman team up on U.S. industrial real estate

Canadian Pension Plan Investment Board


The Canada Pension Plan's investment arm is taking part in a $890-million (U.S.) 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 for a 55 per cent stake in the joint venture, called the Goodman North America Partnership.

Story continues below advertisement

CPP Investment Board 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 $161.6-billion (Canadian) in funds at the end of March.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨