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News » Spain
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P3 2017 expansion starts with €243 million portfolio acquisition

P3 has started its latest phase of expansion with the acquisition of a 322,500 m² portfolio of 11 logistics and distribution warehouses in Spain from Gore Spain Holdings SOCIMI I, S.A.U. The purchase price was agreed at €243.35 million. The portfolio includes assets in key strategic logistics locations around Madrid, Zaragoza, Toledo and Guadalajara as well as the coastal cities of Valencia in the east and Biscay (near Bilbao) in the north. P3 was advised on the purchase by CBRE, legal consulting was provided by Herbert Smith Freehills (HSF).The purchase, which comes shortly after P3 announced record performance across Europe in 2016, takes P3’s asset base in Spain from just over 70,000 m² to nearly 400,000 m² and is one of the bigg...[…]