Pramerica Real Estate Investors has increased its investment into the European logistics warehouse market through the formation of a new €80m western European joint venture with Panattoni Europe and the expansion of its existing central and eastern Europe joint venture with Panattoni.

The new Western European joint venture will target logistics developments with a minimum area of 100,000 sq ft, that are at least 50% prelet, located mainly in Germany and France.

Pramerica has also increased the size of its central and eastern Europe logistics joint venture with Panattoni by €40m, bringing the total investment capacity to €140m. The venture has already closed three transactions since its inception in 2010, investing €33.4m in three developments in Poland, totalling 57,400 sq m.