P3, the specialist owner, developer and manager of European logistics properties, has won the Warehouse Investor of the Year award judged by Central & Eastern Europe-focused real estate publication EuropaProperty.com
The judges awarded P3 the title at Europa Property’s fourth annual Investment & Green Building Awards at a ceremony held in Warsaw earlier this month, citing its string of acquisitions that have added about 1.3 million m2 to its logistics warehouse platform and allowed it to assemble one of the largest land banks for future development.
Logan Smith, P3’s CIO, said: “It’s an honor to receive this award for P3, which has transformed itself through these acquisitions into one of the leading owners of logistics real estate in the European market. This would not have been possible without the support of our shareholders TPG and Ivanhoé Cambridge, who share the ambitions and vision of the P3 team to create an integrated and pan-European platform that best serves our customers.”
P3 has agreed or completed the following transactions in the past 12 months:
• In May, P3 acquired 22 hectares of land along the D11 highway, east of Prague, to develop a new logistics park with 120,000 m2 of warehousing.
• Purchased five prime-class logistics buildings around Milan, with a total area exceeding 200,000 sqm.
• In August, P3 agreed to acquire 627,000 m2 of warehouses spread across 11 logistics parks in the Czech Republic plus land with consent to develop an additional. 120,000 m2 of space.
• In October, P3 agreed to acquire two logistics parks in Poland and one in Romania from CA Immobilien Anlagen AG, comprising a total of 467,00 m2 of warehouses. The transaction, which is pending completion and regulatory approval, includes almost 165 hectares of development land located mainly in Poland and Romania.