Logistics specialist P3 has acquired three German logistics properties located in strategically attractive areas in the cities of Magdeburg, Leipzig and Hanover.
Financial details were not disclosed.
With a gross leasable area of approximately 201,000 m2, they offer a wide range of possibilities for a variety of logistics activities. The properties were all built in the last two years and meet the latest sustainability standards.
Frank Pörschke, CEO of P3, said: 'The current investment market offers attractive opportunities for P3 as we are a competitive and financially strong investor. We have recently closed several acquisitions across Europe and are now excited to announce this major acquisition.
'Germany is our strongest market and continues to play a significant role in our growth journey. The newly acquired assets support us in further strengthening our position as one of the leading owner-developers of logistics properties in Europe.'
Sönke Kewitz, managing director of P3 Germany, added: 'We are pleased to announce this important acquisition of modern and sustainable properties.
'They complement our portfolio perfectly and allow us to grow our presence in highly demanded markets. The excellent locations of the three assets will enable us to meet the growing demand for modern logistics space and we believe that this investment will help to further increase the growth momentum in these markets.'
The first property is located in the community of Barleben near Magdeburg, Saxony-Anhalt. Magdeburg, an established industrial location which is currently experiencing growth. The asset has a rental area of 59,200 m2 and is fully leased to two tenants.
An outstanding feature of this property is its direct connection to the A2 freeway. In addition, it is seeking DGNB Gold certification and has a high-performance photovoltaic system with a capacity of around 6.23 MWp.
The second property is located in Leipzig and benefits from its proximity to Leipzig/Halle Airport, Germany's second-largest cargo airport, and its access to the A14 freeway. It offers a total leasable area of over 112,000 m2 and is also fully leased to three tenants. The asset is certified with the DGNB Gold certificate. It also features a photovoltaic system with an output of around 11 MWp, e-charging columns for cars and e-bikes, energy-saving LED lighting and water-saving fittings.
The third property in Hanover is in a strategically favorable location in the Hanover/Braunschweig logistics region, within a specially selected industrial park that functions as a last-mile location. The property offers a rental area of around 30,200 m2, which is leased to a tenant. This property has also been awarded the DGNB Gold certificate and features e-charging stations for cars and e-bikes, energy-efficient LED lighting and water-saving fittings.
Sönke Ezell, Head of Investment at P3 Germany, added: 'While Leipzig and Hanover have already proven to be established logistics markets, Magdeburg-Barleben is currently experiencing an impressive upswing, which makes our investment in this region particularly exciting. In the future, we will continue to promote sustainability and innovation in the logistics industry and support these regions on their way to a successful future.'
The transaction was supported by CBRE Germany and a team of consultants, including TA Europe and IBW Freudenberg for technical expertise and Delta Simons for environmental aspects. P3 was legally represented by White & Case.