ARTICLES LABELLED WITH TAG logistics

P3 Logistic Parks, a pan-European owner, developer and manager of logistics properties, announced that GIC, Singapore’s sovereign wealth fund, has signed a definitive agreement to acquire P3 from TPG Real Estate and its partner Ivanhoé Cambridge. The transaction values the business at €2.4 billion and is the largest European real estate transaction this year. The transaction is subject to regulatory approval and is expected to close by the end of 2016.

Staamp Poland Sp. z o.o., a manufacturer of plastic components for the automotive industry, will add 2,600 sqm to its manufacturing facility in Błonie near Warsaw. Brica Group Sp. z o.o. is the general contractor of the project. Global real estate services firm Cushman & Wakefield represented Staamp Poland.

Norway’s sovereign wealth fund has acquired a 50 percent interest in a logistics portfolio comprising eight buildings and developable land in Poland, the Czech Republic and Hungary, in a joint venture with Prologis. During the same period, three logistics properties in France have been sold.

Romania has significantly strengthened its position as a favourable investment destination within Central & Eastern Europe and unlike other countries in the region, the Romanian property market is not entirely dominated by its capital city. Although investors and developers are most active in Bucharest, secondary and even tertiary cities have a lot of potential as well, and several companies have decided to explore what these regional hubs have to offer. 

International investor and developer CTP has welcomed Peter Würsching MRICS as Country Manager for Hungary. Peter is responsible for the development of the company’s growing operations in Hungary.

Budapest Airport and DHL Express have signed a strategic agreement about the development of a new facility for the Deutsche Post DHL Group company in Hungary. This is the second large-scale investment by Budapest Airport and DP DHL, after the latter’s freight forwarding business units moved into a new facility built in the Airport Business Park in 2013.

The sharp rebound of the Hungarian real estate investment market witnessed in H2 2015 has gained further momentum during the first half of this year. According to JLL the transaction volume of the first semester reached more than EUR 910 million, already more than during the full 2015 year, highlighting the increasing weight of capital targeting Hungarian assets.

A new distribution centre for Tesco is being built at SEGRO Logistics Park Poznań. The company will start operations in the BTS building comprising over 30 000 sqm at the turn of September and October 2016. Deliveries to 140 retail outlets in the northern and north-western regions of Poland will be completed from the new central warehouse.