P3, owned by TGP Real Estate and Ivanhoe Cambridge, is one of the largest integrated logistics platforms. The closing of the deal will offer the Group greater flexibility in pursuing its development strategy.

The agreements closed were as follows: Western Europe and Poland- fully guaranteed by Morgan Stanley, with PBB Deutsche Pfandbriefbank acting as an agent. In the Czech Republic and Slovakia -through four Czech banks – CSOB as an agent, Komercni Banka, UniCredit Bank and Ceska Sporitelna, and in Romania through Raiffeisen Bank International (RBI). Komercni Banka is part of the Societe Generale Group, and Ceska Sporitelna is part of the Erste Group.

George Aase, CFO P3, stated: “We are thrilled that we closed this long term financing. Our current financial partners have supported our development strategy at a European level, now strengthened through a few new creditors. Long-term relations with our creditors are priceless to us, especially now when P3 continues to create durable values. These new agreements give us the opportunity to take full advantage of the current and future opportunities available.”

Anand Tejani, TPG Real Estate partner, stated: “We are proud of the progress made (…) Throughout this period, P3 became one of the largest integrated independent logistics platform in Europe, with own acquisition capacity, development, leasing and property management.

P3 was advised by Eastdil Secured. (source: business-review.eu)