Bridge Industrial, a privately owned, vertically integrated real estate operating company and investment manager, and Canada Pension Plan Investment Board (CPP Investments) have formed a joint venture to develop industrial properties in several core markets across the United States.
CPP Investments and Bridge have allocated $1.1 billion in equity to the joint venture and will focus on developing industrial assets for long-term ownership in core U.S. markets. CPP Investments will own a 95 percent stake in the joint venture, and Bridge will own the remaining 5 percent.
“We’re excited to form this new strategic partnership with CPP Investments, which will allow Bridge to continue to scale our infill portfolio in our core U.S. markets,” said Steve Poulos, founder and CEO of Bridge. “Demand for industrial space continues to outpace supply in infill markets across the United States, supporting Bridge and CPP Investments’ shared vision of the long-term value and opp