Prologis–GIC $1.6B JV
Prologis and GIC launched a $1.6 billion U.S. joint venture to develop build‑to‑suit logistics facilities, with an initial portfolio of roughly 4.1M SF targeted at key distribution corridors including Southern California — a clear bet on custom, pre‑leased product. The announcement also highlights Prologis’s strategic pivot toward tailor‑built inventory as a core growth lever for the company. (prnewswire.com)
Prologis and GIC made the announcement on March 19, 2026, and the companies said the venture will operate within Prologis Strategic Capital to pair Prologis’ development and operating platform with long‑term institutional capital. (prnewswire.com) Prologis disclosed that its portfolio spans about 1.3 billion square feet across 20 countries and that the company manages roughly $230 billion in assets. (prnewswire.com) The firm reported it started $3.1 billion of development projects in 2025, with build‑to‑suit projects representing more than 60% of those starts, underscoring the company’s recent allocation of development activity. (prnewswire.com) Prologis described the new vehicle as operating under its asset management arm, Prologis Strategic Capital, and said the partnership structure is designed to scale as customer commitments are secured. (prologis.com) GIC is Singapore’s sovereign wealth fund, and earlier this year it entered a separate programmatic build‑to‑suit partnership with Realty Income that carried more than $1.5 billion of combined capital commitments, indicating a pattern in GIC’s industrial allocations. (gic.com.sg) Prologis has Q1 2026 results and an earnings call scheduled for April 16, 2026, which is the next public reporting event that could disclose how the Strategic Capital JV will be reflected in its results. (ir.prologis.com)
