How Prologis manages $1.2 billion in warehouse leases across 19 countries

Prologis is the world's largest owner of warehouse and logistics real estate, with over 1.2 billion square feet across 19 countries. The lease portfolio encompasses more than 5,500 agreements representing $1.2 billion on the balance sheet.

Natalie Chen leads finance and accounting for the global portfolio and has been on Arvexi longer than most customers. "Seven years on the platform," she says. "People hear 5,500 leases and think it is just a bigger version of managing 50. It is not. At this scale, every manual step becomes a bottleneck."

The scale problem nobody else could solve

Before Arvexi, Prologis used a combination of a major lease accounting platform for the US portfolio and regional spreadsheet systems for international operations. The US platform handled domestic leases reasonably well. But the 19-country international footprint - spanning Europe, Asia, and Latin America - relied on a patchwork of regional tools and manual processes that never quite aligned.

Each region had its own team, its own reporting cadence, and its own interpretation of how to handle complex lease structures. Ground leases, build-to-suit arrangements, leases with variable rent tied to tenant revenue, and multi-currency agreements all required specialized treatment that the existing tools could not standardize.

"The US team would close in 10 days. Europe took 15. Asia took 18," Chen says. "Then consolidation took another 4 to 7 days on top of that. By the time we had a complete global picture, almost a month had passed."

The dual-GAAP requirement compounded everything. Prologis reports under ASC 842 for domestic operations and IFRS 16 for certain international entities. Maintaining parallel calculations and journal entries had been a manual, error-prone process that consumed a dedicated team of four people whose sole job was reconciliation.

A global rollout in four waves

"We needed a platform built for global scale from the ground up," Chen says. "Not a single-market tool with international features bolted on."

Arvexi won on its multi-entity architecture and dual-GAAP engine. The platform maintains separate books for ASC 842 and IFRS 16 from a single lease record, eliminating parallel data entry entirely.

The rollout happened in four regional waves over seven months: US first, then Europe, then Asia-Pacific, then Latin America. Each region went through a dedicated migration that included data extraction from legacy systems, document validation through the Document Intelligence module, and parallel-run testing until outputs matched.

"The Europe wave was the most complex," Chen says. "We had 1,800 leases across 8 countries, 6 currencies, and 12 entities. The whole region was live in seven weeks. That set the pace for everything that followed."

Seven years and counting

The relationship between Prologis and Arvexi has evolved significantly over seven years. What started as a compliance tool has become an operational platform that touches nearly every part of the finance organization.

The quarterly reporting cycle dropped from 22 days to 10. Regional close processes now run in parallel on the same platform, with each region completing its local close before consolidated entries roll up automatically. The consolidation delay that used to add a week simply disappeared.

"Without Arvexi, I simply cannot imagine how we would function," Chen says. "It is not a nice-to-have. It is infrastructure. After seven years, it is part of how we operate."

The Intelligence module has become essential for investor communications. Chen's team uses it to analyze lease expiration profiles and generate disclosure schedules for both US GAAP and IFRS. "Our investor relations team used to wait weeks for the lease data they needed for earnings calls. Now they pull it themselves."

Global results at global scale

Prologis manages $1.2 billion in lease obligations from a single platform for the first time in its history. The dual-GAAP reconciliation that once required a dedicated team of four is now fully automated. Audit efficiency improved by approximately 40 percent, with regional auditors accessing the platform directly to pull documentation.

"The thing I am most proud of is consistency," Chen says. "A lease in Tokyo is handled the same way as a lease in Chicago. The same standards, the same controls, the same audit trail. At our scale, that consistency is everything."

Chen's team is now working on predictive analytics for lease renewals, using seven years of historical data to identify patterns in tenant behavior and optimize negotiation strategies. "We have moved past compliance," she says. "We are using our lease data as a strategic asset. I do not know how anyone does lease accounting at this scale without a platform like Arvexi."