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Bridge Industrial, CPP Investments Form $789 Million Joint Venture

Bridge Industrial and Canada Pension Plan Investment Board (CPP Investments) announced the formation of a new joint venture to invest in high-quality industrial properties in several core markets across the United States. The joint venture will also retain the optionality to pursue development opportunities.

CPP Investments and Bridge have allocated US$789 million in equity. CPP Investments will own a 95% stake and Bridge will own the remaining 5%. This is the second partnership formed between CPP Investments and Bridge, with the initial develop-to-core venture formed in 2021 having deployed capital into new construction projects in the Miami and Los Angeles markets.

“We are excited to broaden our successful collaboration with CPP Investments as we work together to capitalize on outstanding opportunities to acquire premium industrial space in the U.S.,” said Steve Poulos, Founder and CEO of Bridge Industrial.

This partnership will allow Bridge and CPP Investments to target high-quality industrial properties in key markets, as retailers compete for faster shipping times despite increasingly limited space for new warehouse construction.

“The industrial sector’s favourable market dynamics position this joint venture well to deliver strong returns for the CPP Fund,” said Sophie van Oosterom, Managing Director, Head of Real Estate at CPP Investments. “Bridge and CPP Investments have a shared vision of the value and opportunity in the sector, and we’re pleased to expand our partnership.”

 

 

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