The Canada Pension Plan Investment Board is taking part in a $890-million US partnership to develop industrial real estate in the United States, the fund's first direct investment in the sector.
Global property developer and manager Goodman Group will invest $490 million for a 55 per cent stake in the Goodman North America Partnership. CPPIB is investing $400 million for a 45 per cent interest.
CPPIB and Goodman have already invested together in Australia, Hong Kong and China.
