Canada Pension Plan Investment Board (CCPIB) is committing $325 million toward warehouses and other logistics investments in Singapore and Indonesia, in partnership with the Logos Property Group and the Caisse de depot’s real estate arm.

It’s the first time the Toronto-based CPPIB has invested alongside Logos, an Australian real estate investment manager that focuses on logistics properties in the Asia Pacific region.

In Singapore, CPPIB will initially commit $200 Singapore dollars ($190.2 million) for the Logos Singapore Logistics Venture.

In Indonesia, CPPIB will initially commit US$100 million ($134.4 million) to the Logos Indonesia Logistics Venture.

CPPIB and the Caisse’s Ivanhoe Cambridge real estate arm will each own 48% of each venture, and the remaining equity will be owned by Logos, which has its headquarters in Sydney.

Montreal-based Ivanhoe Cambridge made a strategic investment in Logos last year, following their collaboration on two China-focused ventures announced in 2015 and 2016.

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