The Canada Pension Plan Investment Board (CPPIB) and Goodman have increased their investment in a Chinese logistics joint venture by $1.25bn (鈧�1.1bn).
The two investors backed the core, sector-specific Goodman China Logistics Partnership (GCLP).
On an 80:20 basis, CPPIB committed $1bn and Goodman $250m.
The partnership has increased commitments to the JV, investing in the greater Shanghai and Beijing regions and key Western China markets, every year .
Jimmy Phua, CPPIB managing director and head of real estate investments for Asia, said the investor continued to see China as a strong investment market.
鈥淭he fundamentals of the Chinese logistics and e-commerce sectors, which underpin the growth in demand for prime logistics facilities, remain compelling,鈥� Phua said.
GCLP, with an initial $300m equity commitment, is buying nine projects, including land, from the Goodman Group.
Greg Goodman, group chief executive, said: 鈥淲ith 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.鈥�
