CPPIB acquires interest in U.S. logistics properties for $350 mln
The Canada Pension Plan Investment Board (CPPIB) has acquired a 10.6 percent interest in a portfolio of logistics properties in the United States for US$350 million. CPPIB formed a joint venture with Global Logistic Properties Ltd (GLP) and three other institutional investors to own the portfolio at the same valuation GLP used when it bought its stake in February. The portfolio comprises 722 logistics assets, including warehouses, business parks and light industrial assets, located across the United States. Earlier this month, CPPIB entered into a partnership to invest in logistics assets in the United Kingdom.
27 October 2015•2 mins read
