November 9, 2012
Australian global commercial property player Goodman Group has entered into a joint venture with Brazil’s WTorre to develop and build logistics and industrial properties, it says. The Brazilian is to contribute four land sites with forecast value of $1.1bn to the 50/50 JV, known as WTGoodman. For its part, Goodman will contribute BRL341m ($167m) in initial capital. It is the first move into LatAm for Goodman, which claims $13bn under management globally in business parks, office parks, office buildings, industrial estates, logistics warehouses and distribution centers.