PGIM Real Estate, the $204.4 billion real estate investment management firm of PGIM, has launched a new platform dedicated to urban logistics investments and operations in France.
The platform, Proxilog REIM, will focus on building up and operating a portfolio of urban logistics assets located across the French cities of Paris, Lyon, Marseille and Lille. Proxilog already has secured a pipeline of five assets with a combined investment value of roughly €70 million ($75 million).
“While demand for high-quality French logistics is continuing to increase, fueled by rising ecommerce sales, Proxilog aims to identify compelling investment opportunities in supply constrained locations,” said Lionel Nicolas, managing director of Proxilog REIM.
Proxilog is owned by PGIM Real Estate’s European value-add strategy, European Value Partners II, which focuses on Europe’s largest metropolitan markets and has carried out 30 transactions worth nearly $3.5 billion across
