Frankfurt am Main | July 1st, 2024 – P3, a leading investor, developer, and long-term owner of logistics properties in Europe, has announced the acquisition of a major logistics real estate portfolio from VIB Vermögen AG. The portfolio covers 269,000 square meters of lettable space and is fully occupied. The transaction is expected to close in the coming weeks, pending customary closing conditions and regulatory approvals. The parties have agreed not to disclose the purchase price.
The portfolio comprises twelve logistics assets located in Germany’s southern region, near the cities of Nuremburg, Ingolstadt, Augsburg and Munich. The sites are situated along the south-west axis of the “Blue Banana” – a corridor known for its strong urbanisation and economic significance across Western and Central Europe.
Frank Pörschke, P3 CEO, comments: “We are pleased to announce this significant acquisition in Germany. This portfolio provides a unique opportunity to strengthen P3’s presence in key locations, expand our platform, and reinforce our position as a leading developer and manager of logistics properties in Europe.”
Sönke Kewitz, Managing Director of P3 Germany, says: “This portfolio’s prime locations and robust infrastructure aligns perfectly with our strategy vision. The acquisition supports our goal of sustainable growth and increased market share in Germany. With this acquisition, our portfolio grows by approximately 12 percent, totalling 2,49 million square meters GLA across 91 assets nationwide.”
Half of the assets are equipped with solar panels, and four are certified with DGNB Gold or BREEAM ‘Excellent’. P3 plans to upgrade the remaining assets to achieve at least the BREEAM In-Use ‘Very Good’ standard or equivalent.