A new pan-European joint venture focused on acquiring, developing and operating high-quality logistics properties has been launched by global investment group La Caisse and major US real estate developer Prologis.
The move sees the creation of Prologis Logistics Investment Venture Europe (PLIVE), in which La Caisse and Prologis will hold 70% and 30% interests, respectively, with governance rights shared between the partners.
Prologis will provide specialised asset management and development expertise as the operating partner of the platform.
Announcing the deal, the joint venture said the PLIVE launch portfolio will provide immediate scale in Europe’s key logistics corridors and a strong foundation for demand-led, long-term growth.
The partnership builds on an established relationship between the two firms dating back to 2019, when they formed a logistics joint venture in Brazil.
The joint venture, which comes with €1bn in seed assets, will initially combine income-generating properties and development sites contributed by both partners.
This will include approximately 844,000 square metres of Class A logistics space across the UK, France, Germany, the Netherlands, and Sweden.
Rana Ghorayeb, La Caisse executive vice-president and head of real estate, said: “We have seen Prologis’ best-in-class capabilities to drive returns first hand 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 maximize the performance and scale of our logistics portfolio.”
Ted Eliopoulos, Prologis MD of strategic capital, 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.”
The partners plan to expand the platform through acquisitions and development across key European logistics corridors, leveraging Prologis’ sourcing, development and operating platform.
While the PLIVE platform will benefit from a shared pipeline of opportunities, Prologis will manage the properties, including accelerating leasing and development, with major strategic and financial decisions made jointly.
The two companies said the joint venture reflects their confidence in the long-term fundamentals of the European logistics sector, as companies reshape supply chains, move production closer to home and continue to invest in e-commerce.
The transaction, expected to close in the second quarter of 2026, remains subject to customary closing conditions and regulatory approvals.
Goldman Sachs & Co. LLC acted as exclusive financial advisor to La Caisse.
