By Connor Hart
La Caisse and Prologis have entered into an agreement to create a European joint venture focused on acquiring, developing and operating logistics properties.
The joint venture--dubbed the Prologis Logistics Investment Venture Europe, or PLIVE--will provide immediate scale in Europe's key logistics corridors as well as a foundation for demand-led long-term growth, the companies said Thursday.
La Caisse and Prologis will hold 70% and 30% interests, respectively, with governance rights shared between the companies. As the operating partner, Prologis will provide specialized asset management and development expertise, it said.
The companies previously formed a logistics joint venture in Brazil in 2019.
With about 1 billion euros ($1.17 billion) in seed assets, PLIVE will house income-generating properties and development sites contributed by both companies, including approximately 844,000 square meters of Class A logistics space across France, Germany, the Netherlands, Sweden and the U.K.
The companies plan to expand the platform through acquisitions and development across key European logistics corridors, they said.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
04-09-26 0648ET
