P3 Logistic Parks has acquired a portfolio of logistics assets in France from funds managed by Blackstone.
The portfolio comprises five assets located in the highly sought-after markets of Lyon (Dagneux, Saint-Quentin-Fallavier), the Rhône Valley (Saint-Rambert-d’Albon, Saulce-sur-Rhône) and Paris (Rosny-sur-Seine).
The assets are fully let to first-class logistics providers and shippers.
This acquisition sees P3 increase its French portfolio by 148,000 m², to a total of almost 500,000 m².
P3 plans to make further investments to improve the performance of the newly acquired platforms and bring them in line with the company’s high-quality standards.
Frank Poerschke, CEO of P3, commented: “We are delighted to announce this major acquisition on the French logistics market. This is also an important milestone for P3 as we enter the highly sought-after markets of Lyon and Rhône-Valley. Our investment capabilities will enable us to strengthen our presence in the most important logistics hubs in France and continue our growth in the country.”
Adrien Beuriot, Managing Director of P3 France, said: “With this purchase, P3 France has increased its portfolio with strategically located assets in the very competitive markets of Lyon, the Rhône Valley and the Paris region. The assets are fully leased with the grade-A specifications requested by our customers and we plan to further improve their ESG footprint in the coming years.”
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!