Property company Goodman Group (ASX:GMG) has inked a deal with a California-based company to enter the North American real estate market.
Goodman and Birtcher Development & Investments will partner up through a $US1.5 billion investment partnership.
The two companies will focus on the development of and investment in logistics and industrial facilities across North America.
Goodman Group also advised it is in the final stages of due diligence with a capital partner targeting about $800 million of equity commitments.
CEO Greg Goodman says with $19 billion of assets under management in the Asia Pacific and Europe entering North America is a logical step for its expansion.
In the first half of the 2012 financial year Goodman Group posted a net profit of $224.9 million.
