- April 2014 Vol.6 No.4

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

EPF doubles commitment to Goodman JV

by Andrea Waitrovich

The Employees Provident Fund of Malaysia has doubled its equity commitment to a German logistics sector joint venture it formed in 2013 with Sydney-based Goodman Group, according to Goodman’s year-end results released this past February.

The Malaysian pension fund has increased its equity commitment to €500 million (US$689 million} for a joint venture called KWASA Goodman German. In July 2013, EPF initially committed €250 million (US$343 million) to the venture.

The partnership is held on a 70/30 basis, with EPF holding the larger share. It is mandated to buy completed logistics properties in Germany and is seeking core-like returns overall. To date, the venture has acquired assets totalling €213 million (US$293 million) from Goodman’s balance sheet and its Goodman European Logistics Fund.

It is also E

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy