Global investment group La Caisse (formerly CDPQ) and Prologis have launched a new pan–European joint venture focused on acquiring, developing and operating logistics properties.
La Caisse and Prologis will hold stakes of 70% and 30% respectively in Prologis Logistics Investment Venture Europe (PLIVE), with governance rights shared between the partners. Prologis will provide specialised asset management and development expertise as the operating partner of the platform.
The platform has been seeded with €1bn of assets and will initially combine income-generating properties and development sites contributed by both partners. This will include approximately 844,000 sq m of Grade A logistics space across France, Germany, the Netherlands, Sweden and the UK.
Rana Ghorayeb, executive vice-president and head of real estate at La Caisse, said: “We have seen Prologis’ best-in-class capabilities to drive returns firsthand through our partnership in Brazil, and we are building on our combined strengths to create a truly consolidated pan-European platform. This joint venture brings together Prologis’ deep hands-on operational expertise and our vision to actively transform assets to enhance long-term value. Together, we will gain greater exposure to the European logistics sector, strengthen execution, and maximise the performance and scale of our logistics portfolio.”
Ted Eliopoulos, managing director, strategic capital, at Prologis, added: ”Our partnership with La Caisse is built on years of working together and delivering results. Together, we’re expanding that success in Europe – combining long-term capital with our operating platform to scale high-quality logistics assets across key markets.”
Goldman Sachs acted as exclusive financial adviser to La Caisse.
