#Canada #logistics #Montreal #Prologis #La Caisse

Introduction

On April 9th, 2026, La Caisse (formerly known as CDPQ) and Prologis, Inc. (NYSE: PLD) announced the establishment of a groundbreaking joint venture, Prologis Logistics Investment Venture Europe (PLIVE). This venture is aimed at acquiring, developing, and operating high-quality logistics properties across Europe, marking a significant move within the logistics sector.

Initial Portfolio and Stake Distribution

The new enterprise will kick off with an initial portfolio worth €1 billion (approximately CAD 1.6 billion), featuring logistics assets located in key countries such as France, Germany, the Netherlands, Sweden, and the United Kingdom. La Caisse will hold a 70% stake in PLIVE while Prologis will manage operations through its expertise in asset management and development, owning the remaining 30%. The governance rights will be shared, ensuring both partners have a say in the operational and strategic decisions made within the venture.

Growth Strategy and Market Expansion

The launch of PLIVE is designed to capitalize on the substantial growth opportunities in the European logistics market. The venture plans to expand its portfolio through a robust strategy involving acquisitions and the development of properties in major logistics corridors. This initiative not only builds on the existing partnership between La Caisse and Prologis, which has seen cooperative success in Brazil since 2019, but also reinforces their commitment towards evolving logistics property management in Europe.

Specific Objectives

Rana Ghorayeb, Senior Vice President and Head of Real Estate at La Caisse, expressed confidence in the joint venture, emphasizing that they hope to combine La Caisse’s asset transformation vision with Prologis’s operational expertise. This synergy aims at enhancing their exposure to the European logistics industry while maximizing the performance of their logistics portfolio through disciplined growth.

Ted Eliopoulos, Managing Director of Strategic Capital at Prologis, pointed out that the venture relies on years of successful collaboration. By extending their partnership into the European markets, both firms are set to leverage long-term capital alongside Prologis's operational platforms, targeting quality logistics assets and growth in essential markets.

Future Outlook and Operational Management

To ensure successful property management, Prologis will handle all aspects including leasing and development. Additionally, even with a joint pool of investment opportunities, major strategic and financial decisions will be made collaboratively, reflecting the trust and shared vision of both partners. This joint venture resonates with the current trends where companies are redefining their supply chains and investing heavily in e-commerce logistics, thus signalling a promising future for PLIVE.

Expected Timeline

The transaction is anticipated to close in the second quarter of 2026, pending standard closing conditions and regulatory approvals.

About the Partners

La Caisse: La Caisse has a long history of investing for over 60 years, aiming to generate optimal long-term returns for its depositors, which include over 6 million Quebecers. As a global investment group, La Caisse’s net assets amounted to CAD 517 billion as of December 31, 2025.

Prologis: Recognized as a leader in logistics real estate, Prologis is invested in developing modern, smart infrastructures that facilitate global commerce. Their strategic focus on quality and sustainability continues to drive innovation within the logistics space.

In conclusion, the formation of PLIVE signifies a collaborative effort that merges robust investment strategies with operational excellence. The partners are set to capitalize on growth in the European logistics sector and set new standards in the industry.