Goodman Group (Goodman or Group) and Canada Pension Plan Investment Board (CPPIB) are pleased to announce a US$1.25 billion increase in their equity allocation to the Goodman China Logistics Partnership (GCLP or Partnership). The equity allocation will be made on an 80:20 basis, with CPPIB committing US$1 billion and Goodman committing US$250 million, consistent with the Partnership’s equity structure.
was established by Goodman and CPPIB in 2009 to own and develop logistics assets in Mainland China. GCLP
is seeing continued strong demand in core logistics markets, including in the greater Shanghai and Beijing regions and key Western China markets, driven primarily by e-commerce and domestic consumption. The Partnership will continue to focus on key locations, where land constraints and demand are strongest.
will acquire nine projects (including land) from Goodman Group
, with an end build out value in excess of US$650 million.
Greg Goodman, Group CEO said, “CPPIB is an important global partner for Goodman and we are delighted to further build on our well-established relationship. With this increase in equity allocation and acquisitions, our China platform will be strengthened across key markets and provide full alignment for the ongoing expansion of the portfolio.”
Jimmy Phua, Managing Director and Head of Real Estate Investments, Asia, said: “CPPIB’s additional equity reflects GCLP
’s success to date and the longstanding partnership we have with Goodman. We continue to see China as a strong investment market for a long-term investor like CPPIB, In particular,the fundamentals of the Chinese logistics and e-commerce sectors which underpin the growth in demand for prime logistics facilities remain compelling.”
was established in 2009 with an initial equity commitment of US$300 million and Goodman and CPPIB have regularly increased their commitment to the Partnership, through additional equity to support the growth of the business every year since 2012.
For further information, please contact:
Marketing Director, Asia (ex-Japan)
Tel + 852 2249 3173 / 9172 2855
Director, Corporate Communications
+44 (0) 203 205 3515, firstname.lastname@example.org
Senior Manager, Media Relations
+1 (416) 868-8629, email@example.com
Citigate Dewe Rogerson (on behalf of Goodman Group)
Tel +852 3103 0108 / 9325 3363
Senior Associate Director
Tel +852 3103 0106 / 9720 6445
For more information please go to www.goodman.com
For more information, please go to www.cppib.com