Goodman, WTORRE Collaborate in Brazil

Goodman, WTORRE Collaborate in Brazil

Australia-based logistics property developer Goodman Group today entered into a joint venture with WTORRE, a Brazil-based commercial real estate developer, which will undertake the development of logistics and industrial properties on a 50-50 basis in markets throughout Brazil.

The joint venture, to be known as WTGoodman, will combine WTORRE’s local market expertise and logistics capability with Goodman’s global customer base and funds management expertise, with the objective of matching completed property with the investment demand from Goodman’s global capital partners.

WTORRE will contribute four existing development land sites, two in Sao Paulo and two in Rio de Janeiro, totaling 850,000 square meters (about 9,149 square feet), with a predicted value of $1.1 billion.