The Globe and Mail reports in its Thursday edition that one of Western Canada's top property developers, Ryan Beedie, is teaming up with Quebec's Caisse pension fund to buy and develop industrial real estate nationally. The Globe's Sean Silcoff writes that company, Beedie Holdings Ltd., based in Burnaby, B.C., has sold a half-share in six warehouses and distribution centres to the pension management giant for $500-million. The portfolio includes four Vancouver-area properties, one in Calgary and another under construction in Toronto. Together, they total 2.7 million square feet of leasable space and include facilities used by Sobeys, Aritzia and Amazon. Beedie will manage the properties. The partners have also agreed to buy or build up to $2-billion of additional industrial properties in large cities in Quebec, Ontario, Alberta and B.C. The Caisse has committed $500-million for that expansion. Beedie will source deals and contribute 25 per cent or 50 per cent of the equity capital on a case-by-case basis; the Caisse will contribute the balance of the equity. The remaining will be debt-financed. The joint venture will target existing, larger-scale structures or land where a building can be constructed within three years.