Nov
08
TPG, Ivanhoé Cambridge Sell European Logistics Park Owner
ByThe $2.7 billion deal is reportedly the largest European real estate transaction of the year.
P3 Logistics industrial facility in Bratislava, Slovakia
Prague—GIC, Singapore’s sovereign wealth fund, has agreed to purchase P3 Logistic Parks, a major European owner, developer and manager of logistics properties, from TPG Real Estate and its partner, Ivanhoé Cambridge, the parties announced jointly on Monday.
The transaction values P3 at €2.4 billion ($2.7 billion) and reportedly is the largest European real estate transaction this year. Pending regulatory approval, the transaction is expected to close by the end of this year.
TPG Real Estate and Ivanhoé Cambridge had acquired P3, then known as PointPark Properties, in 2013…
