The Healthcare of Ontario Pension Plan (HOOPP) has entered into an agreement with Verdion, a real estate investor and developer, for the funding and development of logistics parks in Europe.

In its new partnership, HOOPP and Verdion will work together exclusively for logistics warehouse development throughout Europe, building a portfolio with a value of more than €1 billion ($1.4 billion) over the next five years.

The new partnership will own and develop iPort, the six-million square foot rail logistics project in Doncaster, U.K., which has value of £400 million ($663.7 million).

The pension fund will also acquire a stake in Verdion’s Link Project in Germany valued at €250 million ($352.4 billion).

HOOPP and Verdion are also about to commit to another major warehouse development in Germany, pre-let to an international, household name retailer.

“This is a great opportunity for HOOPP to partner with an experienced developer to create a pipeline of logistics facilities in the U.K. and Europe and builds upon our extensive experience and investments in the industrial sector across Canada,” says Michael Catford, HOOPP’s vice-president, real estate.

“It will also be a meaningful step in expanding HOOPP’s real estate presence in Europe which now includes direct investments in shopping centres in the U.K. and the Czech Republic, our co-venture with the Crown Estate in St. James’s and a number of commingled fund investments.”

Related articles:

Copyright © 2020 Transcontinental Media G.P. Originally published on

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required