Prologis Forms €1 Billion European Logistics JV, Takes 30% Stake
Prologis is launching a pan-European joint venture with La Caisse, contributing €1 billion of logistics properties into a platform called PLIVE. The venture controls 844,000 square meters of Class A warehouses across France, Germany, the Netherlands, Sweden and the UK, with Prologis as operating partner holding 30%.
1. Joint Venture Structure
The PLIVE platform is a pan-European joint venture between Prologis and La Caisse, seeded with €1 billion of logistics assets. La Caisse holds a 70% stake while Prologis retains 30% and serves as the operating partner, providing asset management and development services.
2. Portfolio Composition
The initial portfolio comprises approximately 844,000 square meters of Class A logistics space spanning key corridors in France, Germany, the Netherlands, Sweden and the United Kingdom. This immediate scale positions PLIVE to capture demand driven by supply-chain reshoring trends.
3. Strategic Rationale
Prologis expands its global footprint by leveraging institutional capital to advance market penetration in Europe. The venture builds on a prior 2019 partnership in Brazil and aligns with clients relocating production closer to end markets, requiring modern warehouse facilities.
4. Transaction Timeline and Advisory
The PLIVE agreement is slated to close in the second quarter, with Goldman Sachs acting as exclusive financial adviser to La Caisse. Completion will enable immediate capital deployment and asset optimization under Prologis’s operational platform.