Goodman Group and Canada Pension Plan Investment Board (CPP Investments) have committed an additional $2.5 billion of equity to the Goodman North American Partnership (GNAP), increasing their total equity commitment to $5.5 billion. Consistent with the partnership’s 55/45 equity structure, Goodman will allocate $1.4 billion and CPP Investments $1.1 billion.
GNAP was established in 2012 to invest in high-quality logistics and industrial property in key North American markets. With an initial commitment of $890 million, the partnership’s assets have grown to approximately $3 billion. With this increased equity allocation and allowing a moderate amount of debt, total investment capacity in GNAP has increased up to $7.5 billion, providing significant capacity for property acquisitions and developments.
Anthony Rozic, CEO, Goodman North America, said, “The partnership continues to build scale in select U.S. logistics markets, including Los Angeles, Southern California
