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).
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