P3 to build 63,000-m[sup]2[/sup] Slovakian facility with Inva Group

Arcapita Bank's European logistics property arm PointPark Properties (P3) has signed a partnership agreement with the local developer Inva Group for the development of a new logistics park in eastern Slovakia. The new facility, called PointPark Kolice, will consist of three buildings offering 63,000 m² of A-quality distribution space on a 120,000-m² site. The first phase of the scheme is expected to be completed in 2011.

'Expanding our portfolio and active search for new locations is a part of our corporate strategy', said Ian Worboys, CEO of P3. 'We are pleased that signing the agreement brings new assets in this field to the east of Slovakia this time.'

'We appreciate the P3's interest in this partnership, we believe that with the pan-European experience of the team and experts from the company, we will be able to take maximum advantage of the area and we will offer the future tenants a new centre of superior European level', said Vladimír Jalakla, a member of the Board of Inva Group.

Established in 2001, P3 operates in 11 European countries with over 1.5 million m² of assets under management.

Slovakia's Inva Group was created in 2008 through the merger of Ingos and Vassal to create a significant new player in the field of industrial property development.