APG, CPP Investments, Goodman commit €999m to UK logistics JV
Goodman Group, Canada Pension Plan Investment Board (CPP Investments) and APG Asset Management N.V. (APG) have each allocated an additional £300 million (€333 million/$393 million) of equity to investment vehicles in the United Kingdom, targeting the logistics sector.
The expansion follows the success of the Goodman UK Partnership (GUKP) established in 2015 to invest in prime industrial and logistics properties on a long term basis.
Stephen Young, director – investment management, Goodman UK, said, "The Partnership sees us continuing our investment in strategic locations that meet the rising demand for modern, well-located logistics properties. Building on the strength of the U.K. portfolio to date, this increased commitment provides us with the equity to support the future development and acquisition of best-in-class urban logistics space where supply is limited and demand is driven by consumers."
The additional commitment wi