Thursday, March 17, 2016
Goodman’s original capital commitment of R$340 million remains unchanged as a result of the new ownership structure. Funding for the future expansion of the real estate portfolio is expected to be in line with Goodman’s global capital partnering approach.
The Group is excited to be in Brazil and is confident of growing the Goodman brand on a 100% ownership basis by strategically aligning its local operations under the leadership of its CEO, Cesar Nasser, with the Group’s extensive global platform and resources. Goodman’s operations now include over A$33 billion (R$90 billion) of assets under management, equating to 17.8 million sqm of space under management for more than 1,700 customers in over 30 offices. The strength of its operating platform, quality of its international brand and access to significant global capital will continue to attract international customers and provide a range of opportunities for its Brazil platform over the long term.
Mr Danny Peeters, Executive Director Goodman commented, “We have built a stable operating platform in Brazil over the last 3 years and the opportunity to have complete autonomy in Brazil has always been contemplated by the Group. We acknowledge that Brazil is currently going through a difficult economic period and we will maintain a prudent approach to investment. However, Goodman maintains its long term commitment to the Brazilian market, given its growing middle class and the structural changes which are occurring in the logistics market. Obtaining 100% of the operating management platform at this opportune time ensures the consistent execution of Goodman’s global strategy”.