Prologis inks $1.6B JV
Prologis announced a $1.6 billion joint venture with GIC to expand its build‑to‑suit platform focused on pre‑leased, mission‑critical logistics properties. The move targets long‑term, highly customized facilities that tenants—3PLs, e‑commerce and regional distributors—are now demanding. (simplywall.st)
The venture is seeded with an initial portfolio of approximately 4.1 million square feet and retains additional capacity for future investments. (prologis.com) The JV will operate within Prologis Strategic Capital, the company’s asset‑management business that invests alongside institutional partners. (prologis.com) Prologis reported $3.1 billion in development starts during 2025, with build‑to‑suit projects accounting for more than 60% of those starts. (prologis.com) Prologis states its global footprint at roughly 1.3 billion square feet of logistics real estate with about $230 billion of assets under management. (prologis.com) Goh Chin Kiong, GIC’s Chief Investment Officer for Real Estate, cited e‑commerce growth, supply‑chain re‑shoring and resilient consumer spending as drivers behind GIC’s allocation to U.S. industrial assets. (gic.com.sg) This transaction follows GIC’s January 2026 formation of a separate, programmatic build‑to‑suit partnership with Realty Income that carried combined capital commitments of more than $1.5 billion. (gic.com.sg) Prologis described the JV structure as scalable with demand, designed to deploy capital as customer commitments are secured and to underwrite purpose‑built, long‑term leased facilities. (prologis.com)
