GLP, Canada Pension Plan in Japan JV

Singapore's Global Logistic Properties (GLPL.SI), which owns warehouses in Japan and China, said on Thursday it has formed a joint venture with Canada Pension Plan Investment Board to develop logistic facilities in Japan.   

Each partner will invest US$250 million ($301 million) of equity over a projected three years, the company said, adding that the targeted leverage is 50% loan-to-value after stabilisation.

Canada Pension Plan Investment Board is an investment management organisation that invests the assets of the Canada Pension Plan and manages a fund that totals C$153.2 billion ($188.6 billion).