The Canada Pension Plan Investment Board says it has signed an agreement to significantly expand its logistics real estate portfolio in Brazil. The board has signed a joint venture partnership with Global Logistic Properties for $343 million US, of which $200 million will be funded at closing. In the first joint venture, the CPPIB will partner with GLP and the Government of Singapore Investment Corporation to acquire a portfolio of five development projects. In the second joint venture, the CPPIB will partner with GLP, GIC and the China Investment Corp. to acquire a portfolio of 35 logistics assets.
