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- February 1, 2025: Vol. 37, Number 2

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CPP Investments sells U.S. logistics for $1b, sells interests in four real estate JV projects in China

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Norges Bank Investment Management has paid $1.07 billion for a 45 percent ownership interest in a portfolio of U.S. logistics assets, valuing the portfolio at $3.265 million, which is encumbered by $888 million of existing debt.

The seller of the portfolio is Canada Pension Plan Investment Board (CPP Investments). Goodman already owned 55 percent of the portfolio and will retain its ownership share. Goodman also will perform the asset management on behalf of the joint venture.

“We are excited about growing our logistics real estate exposure and entering into a partnership with Goodman. This investment aligns with our long-term strategy, and we think now is a good time to invest,” says Per Løken, global head of unlisted real estate at Norges Bank Investment Management, which invests on behalf of Norway’s sovereign wealth fund.

The portfolio has a total leasable area of 13.99 million square feet and comprises 48 buildings and five land plots.

“The

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