P3 is buying a portfolio of logistics properties in Poland and Romania from CA Immo and the European Bank for Reconstruction and Development.
The portfolio is being sold for an undisclosed price. CA Immo said the sale – scheduled to complete by the end of the year – will release around €110m of equity.
P3, owned by TPG Real Estate and Ivanhoé Cambridge, will take control of a 215,000sqm logistics park in Romania and two standing assets in Poland totalling 252,000sqm, as well as 165 hectares of land for development.
P3 recently agreed to pay Tristan Capital Partners and VGP €523m for a logistics portfolio in the Czech Republic.
The firm has also bought in Italy, investing in a 170,290sqm portfolio of four logistics properties sold by AEW Europe’s Logistis fund and in a fifth, 32,000sqm property east of Milan from Italy’s CD Group.
Ian Worboys, P3’s chief executive, said the latest deal takes P3’s portfolio to more than 2.9m sqm.