According to Bloomberg, the properties of P3 are valued at EUR 760 million. As part of the transaction, the investors will also commit additional capital to strengthen P3’s balance sheet and to provide support for future growth.
“This strategic investment represents a unique opportunity to acquire a large and independent logistics platform in Europe. With assets strategically positioned along major air, sea and rail transport routes, P3 offers a very attractive growth potential, and will contribute to the diversification of our real estate portfolio,” said Meka Brunel, executive vice president, Europe, at Ivanhoé Cambridge. “The strong growth trend in e-commerce can only benefit the logistics industry in the long term and offers an opportunity to generate excellent returns from changing consumer lifestyles in Europe,” he added.
P3 is a specialist investor, developer and asset manager of warehouse properties, providing a first class service to logistics, retail, automotive and electronics manufacturing companies. The real estate assets consist of 48 warehouses (1.46 million m2) and a land bank allowing for the development of more than 590,000 m2 of warehouse space across Europe.
P3 officially opened its Bucharest office in 2011. (source: business-review.eu)