Goodman Group (“Goodman or Group”) today announced the establishment of the Goodman Brazil Logistics Partnership (“GBLP or the Partnership”) to invest in prime logistics and industrial assets in the key gateway cities of São Paulo and Rio de Janeiro.
Goodman Group has been in Brazil since 2012, owning, developing and managing modern high-quality logistics and industrial properties. The establishment of the US$700 million / R$2.5 billion Partnership allows the Group to invest alongside its global capital partners APG, Canada Pension Plan Investment Board, First State Super and GIC, who share the same investment horizon and confidence in the Brazilian market.
Cesar Nasser, CEO of Goodman Brazil said, “The Partnership has been established with approximately US $270 million/R$1 billion of existing assets and work in progress that can be developed to deliver over one million square metres of high-quality logistics space. With the Brazilian market experiencing under-supply of modern, high-quality space, we have an opportunity to expand our global platform in Brazil for the benefit of our customers.”
“Our local team of 30 people across development, asset and investment management work to build long-term relationships with our global and local customers by providing superior customer service and ensuring that our assets are maintained to an exceptional standard. Our customer base includes companies such as multinational engineering and electronics company Bosch and Brazilian retailer Via Varejo.”
Goodman’s global strategy focuses on gateway cities around the world, with large populations, growing urbanisation and rising consumerism, where quality locations and properties are scarce. Goodman’s global operating platform has US$27 billion of assets across 375 properties and 17.3 million square metres under management, with a team of approximately 1000 people servicing more than 1,600 customers across 16 countries.
Danny Peeters, Executive Director of Goodman Group, “With Brazil being one of the top ten economies in the world and having a population of over 200 million, it’s an important market for a global company like Goodman. Its major cities of São Paulo and Rio de Janeiro display the characteristics we look for in a gateway city.”
“The establishment of the Partnership is in line with Goodman's global capital partnering approach and will allow us to expand our global platform in this key market and service our customers from a broad range of industries including automotive, third-party logistics providers, retail and e-commerce.”
Goodman's flagship property in Brazil - ABCD1