8 Nov 2012

Goodman expands to Brazil

1:01 pm on 8 November 2012

Commercial and industrial property owner Goodman Group has expanded into Brazil and will issue new equity to raise $A400 million for further growth.

Goodman has a joint venture with WTORRE, a leading property owner in Brazil, to develop logistics and industrial properties there.

Brazil is one of the world's fastest growing economies and there are good opportunities to invest in its industrial real estate market, Goodman said on Thursday.

AAP reports the Goodman recently expanded into North America.

The company also has operations in Australia, New Zealand, Asia and Europe.

Goodman has also launched a placement of new securities to institutional investors, which could raise up to $A400 million.

The company said it maintained occupancy of 96% in its properties during the three months to September.