On January 16, 2025, Bridge Industrial and Canada Pension Plan Investment Board (CPP Investments) announced a joint venture to invest in high-quality industrial properties across key U.S. markets, with an option to pursue development projects. The joint venture is backed by US$789 million in equity (approximately CAD 1.05 billion at the January 2025 exchange rate of ~1.33). CPP Investments holds a 95% ownership stake, with Bridge retaining the remaining 5%.

This marks the second collaboration between the two firms, following a 2021 develop-to-core venture that deployed capital into new construction projects in Miami and Los Angeles. The new venture is designed to capitalize on continued demand for premium industrial space, driven by the e-commerce boom and pressure on retailers for faster delivery despite tight warehouse supply.

Sophie van Oosterom, Managing Director and Head of Real Estate at CPP Investments, emphasized the sector’s strong market fundamentals and its alignment with CPP’s long-term investment strategy. Steve Poulos, Founder and CEO of Bridge, highlighted the strengthened partnership and shared vision to identify and acquire strategic assets.