October 14, 2014

P3 Acquires 467,000 m2 of Warehouses plus Additional Development Land from CA Immo

P3 has agreed to buy two logistics parks in Poland and one in Romania with a combined total of 467,000 m2 of lettable space from CA Immobilien Anlagen AG

Prague  P3, the specialist owner, developer and manager of European logistics properties, has agreed to buy two logistics parks in Poland and one in Romania with a combined total of 467,000 m2 of lettable space, from CA Immobilien Anlagen AG. The purchase, which is still subject to contractual terms and regulatory approvals, also includes almost 165 hectares (ha.) of land for development, principally in Poland and Romania.

Ian Worboys, P3’s Chief Executive, said: “This portfolio of high-quality properties in great locations strengthens our position as one of the top logistics property owners in Europe. This transaction follows P3´s recent acquisitions in Italy and the Czech Republic and is in line with our overall strategy for growing our business since the acquisition of P3 by TPG and Ivanhoé Cambridge in October last year. P3 now operates more than 2.9 million m2 of modern logistics and distribution facilities and also owns one of the largest land banks for logistics development in Europe. This acquisition of high quality assets produces strong cash flows that will provide attractive returns for our stakeholders.”

In Poland, the 177,000 m2 park at Blonie is situated 30 kilometres west of Warsaw city centre, with links to the A2 motorway to Poznan and Berlin.  Tenants include Bayer, IBM, Orange, Triumph and online retailer Allegro, reflecting the park’s appeal to large retailers seeking proximity to the Polish capital. This park offers 17 ha. of development land.

The second park lies near Piotrkow, South East of Lodz in central Poland. It provides 75,000 m2 of space and direct road links to Warsaw, Wroclaw and Katowice. The park is on a 120 ha. plot, offering scope for development. Kühne & Nagel, FM Logistic and InPost are among the park’s largest tenants.

The Bucharest Park is the largest of the three standing assets acquired by P3, consisting of 215,000 m2 of almost fully occupied space and 40 ha. of land for development. It is a major centre for third-party logistics providers, due to its direct access to the A1 motorway heading westwards and the park’s freight handling facilities as part of the pan-European rail corridor linking Dresden and Nuremberg to Istanbul. The park’s location, on the city’s principal ring road and its close proximity to central Bucharest, attracts e-commerce tenants, notably online retailer e-Mag as well as multinationals such as Carrefour, Tibbett Logistics, Gebrüder Weis and Interbrands.

Peter Bečár, P3’s Managing Director for Central & Eastern Europe, said: “The addition of parks near Lodz and Warsaw reinforces our presence in Poland alongside our existing parks in Poznan and Mszczonow. Together with the purchase of the best logistics park in Romania, these assets strengthen our CEE portfolio and complement our recent investments. It allows us to provide our customers with warehouses in a true pan-European platform.”

About P3
P3 is a specialist owner, developer and manager of European logistics properties. Active throughout Europe, P3’s asset base will now comprise 144 warehouses spread across 9 countries and a land bank with zoning for more than 1 450,000 m2 of potential development.

P3’s mission is to provide warehouse tenants with a first rate occupancy experience in high quality assets in key logistics locations. P3 develops environmentally sustainable warehouses that meet the highest international standards.

PointPark Properties has adopted “P3” as a corporate brand and will use the trading name P3 Logistic Parks to better reflect the company’s core business. You can find more information about P3 on our new website www.p3parks.com
P3 is owned by TPG Real Estate and Ivanhoé Cambridge.

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