Goodman and CPPIB Increase Commitment To China Partnership To US$1 Billion
The press release states, “Goodman Group (Goodman or Group) and Canada Pension Plan Investment Board (CPPIB) are pleased to announce that they have increased their equity allocation to Goodman China Logistics Holding (GCLH) by an additional US$500 million, with US$400 million contributed by CPPIB and US$100 million by Goodman.
GCLH was formed in 2009 to invest in high quality logistics properties in prime locations across mainland China. As of June 30, 2012, GCLH has invested in 12 logistics projects in 6 Chinese markets: Shanghai, Beijing, Tianjin, Kunshan, Chengdu and Suzhou. The portfolio has an occupancy rate of 100% with a strong tenant base.
The new equity commitment announced today doubles the total equity allocated to GCLH to US$1 billion, reflecting the platform’s increasing acquisition and development momentum.”
Read more: CPPIB Press Release