Canada Pension Plan Investment Board (CPP Investments) has made a €400 million ($468 million) co-investment in Proudreed, one of France’s largest last-mile urban logistics platforms, alongside funds managed by Blackstone. The investment provides CPP Investments with a significant minority interest in the platform.
Proudreed owns and manages a portfolio of approximately 1.6 million square meters (17.2 million square feet) of high-quality, multi-let logistics and light industrial assets, focused primarily on last-mile urban locations. The sites are located across France, with nearly 50 percent concentrated in Paris, Lyon and Marseille, and serve a diversified tenant base. The platform also includes the potential for future development of more than 500,000 square meters (5.4 million square feet), bringing the total square meters to 2.2 million (23.7 million square feet), that is fully supported by Proudreed’s experienced and highly specialized in-house management team.
