The CPP Investment Board is investing $572.4 million in the ProLogis European Fund II(PEPF II), which focuses on acquiring and managing a diversified portfolio of core institutional-quality distribution facilities in Europe.
Its investment represents approximately 17% of the total fund.
Denver-based ProLogis is the leading global developer and operator of distribution facilities in Europe with a proven track record in this market segment.
This fund commitment builds on other CPPIB real estate transactions in Europe including its recent investments in the United Kingdom’s retail sector.
“By investing in the PEPF II, the CPP Investment Board is continuing its strategy of building relationships with world class developers and operators of commercial real estate,” says Graeme Eadie, the CPPIB’s senior vice-president, real estate investments.
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“It also supports the CPP Investment Board’s focus to geographically diversify its real estate portfolio with further investments in Continental Europe and selected markets in Central and Eastern Europe.”
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