Debevoise & Plimpton LLP has advised Canada Pension Plan Investment Board (CPP Investments) in the formation of a programmatic joint venture between CPP Investments and Bridge Industrial (Bridge) to acquire Core+ and Value-Add industrial properties, and develop new industrial properties, in several core markets across the United States. CPP Investments and Bridge have allocated approximately US$800 million in equity to the joint venture, and will focus on acquiring and developing industrial assets for long-term ownership in core U.S. markets.

CPP Investments is a professional investment management organization that manages the CPP Fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. Bridge is a privately-owned, vertically integrated real estate operating company and investment manager that focuses on the acquisition and development of Class A industrial real estate in supply-constrained core markets in the U.S. and Europe.

The Debevoise team was led by real estate partner Peter Irwin and included counsel Daniel Farrell and associate Hymie Anteby, tax partner Michael Bolotin and associate Elliott Tuchman, and antitrust counsel Kyra Bromley.