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Goodman Group (ASX:GMG) has sold a 50 per cent stake in a Hong Kong project to a Canadian pension fund for $274 million.
The project is called the Hong Kong Interlink Project and is a 224,000 square metre warehouse and distribution centre that is currently being developed.
The stake has been purchased by the Canadian Pension Plan Investment board, with the remaining interest held by Goodman's Hong Kong Logistics Fund.
Both companies have committed to share the cost of the development until completion.
Goodman Group reported a net profit of $262 million in the first six months of its 2011 financial year.
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