Australia’s Goodman Group and
The joint venture has also signed a $100 million five-year loan facility with Credit Agricole Corporate and Investment Bank and ING Bank NV, Goodman said in a statement. Goodman, a developer of warehouse and industrial assets backed by sovereign wealth fund China Investment Corp., told Reuters last month that it would invest $1.2 billion in China and Japan over the next 18 months.
Goodman said the additional capital in its joint venture with CPPIB should help to boost its investments in China tenfold to $3 billion over the next five years. “We are well positioned to take advantage of opportunities, having secured a number of well located land sites. This has grown our land bank to in excess of 2 million square metres,” Philip Pearce, managing director of Goodman Greater China, said.
(Eriko Amaha is a contractor for Reuters in Sydney.)