The transaction, approved in the first quarter of this year, included ten plots of 8.60 ha in total, situated in Domneşti, near Bucharest ring road and A1 highway. The plot of land will add to the current P3 Bucharest Park.
„We bought this plot in order to expand the park for one of our tenants. In October, we will announce the name of the tenant, as we are under confidentiality clause“, has declared for Capital Blake Horsley, the chief of P3 local operations. He didn’t comment the transaction value.
The investor, controlled by TPG Capital and Ivanhoé Cambridge, has completed in February last year the acquisition from CA Immo of Europolis Logistics Park, whose name changed to P3 Bucharest Park, for nearly EUR 12 million. The property includes eight warehouses with a rentable area of 215,000 sq. m and approx. 40 ha of land for the development of 114,000 sq. m rentable area. The logistics park in fully let to tenants such as Carrefour, emag and Tibbett Logistics.
Last autumn, P3 started the first built-to-suit construction since the acquisition of P3 Bucharest Park. The company developed at km 13th on A1 highway a logistics centre for Carrefour, including a warehouse of 28,000 sq. m on six hectares and expanded it with a second building of 15,000 sq. m.
In February, P3 started the speculative construction of a new logistics warehouse on 42,800 sq. m within P3 Bucharest Park. The development cost of the centre for Carrefour and of the new building is estimated at more than EUR 65 million. The project is financed by Raiffeisen Bank. (Source: capital.ro)
