Goodman Group is to increase its presence in China after signing off on a US$500 million increase in its equity allocation to its Goodman China Logistics Holding (GCLH) joint venture.
The deal will see US$400 million contributed by CPPIB and US$100 million by Goodman.
Goodman chief executive Greg Goodman said the increased cash, the joint venture partners have allocated a combined US$2 billion, is to invest in and develop prime logistics space across mainland China. GCLH was formed in 2009 with an initial equity commitment of US$300 million.
Read more: http://www.smh.com.au/business/property/industrial-market-hits-sales-of-21b-property-in-demand-20141120-11p858.html#ixzz3Jy4GxrbN
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