P3 enters the UK market. Acquires Segro properties

P3 Logistic Parks is starting operations in the UK. The company has acquired two logistics properties from Segro, with a total area of 81 thousand sqm. The properties are located in Crick (36 thousand sq. m.) and Kettering (45 thousand sq. m.).

"The acquisition of these two logistics assets, located in the UK, is a milestone in P3's development, as it brings us into a key market known for its thriving logistics industry. The country has always been an important center for international trade, so we are excited to offer our expertise and resources there, meeting the changing needs of companies operating in the region." - explains Frank Pörschke, CEO of P3 Logistic Parks.

The two logistics assets just acquired are strategically located in the so-called "Golden Triangle" area, providing seamless connectivity to major transportation networks and key industrial centers in the UK.

All facilities have been under construction since 2010 and have been developed to modern Class A specifications, taking into account BREEAM certification requirements of "Very Good" and are fully leased to three tenants.

For the investment, P3 is working with Roebuck, an institutional investment manager specializing in the pan-European logistics sector. Roebuck is supporting P3's entry into the UK market with its extensive expertise and numerous track records, and using its experience working with tenants, will manage both assets during the initial stage of P3's UK expansion.

"P3's entry into the UK market reflects our long-term vision and our strategic development plans. We carefully selected these two logistics assets because they fit with our commitment to offer our customers excellent service and full operational efficiency with sustainability." - Otis Spencer, CIO of P3 Logistic Parks, said.

"This sale has enabled us to divest a number of relatively small holdings, all of which were intended for sale in the short to medium term, allowing us to reinvest capital in support of our successful growth program. It also demonstrates the continued investment attractiveness of high quality logistics assets following the significant valuation adjustment that has occurred over the past year." - adds David Proctor, managing director of group investments at Segro.

source: press materials