- Company targets top spot
- Accelerating growth through investment and development
- Looking for the best talents
Prague, Czech Republic | 11th October 2021. Expo Real 2021 marks the celebration of 20 years of operations for investor-developer P3 Logistic Parks (“P3”). Originally founded in Prague, Czech Republic, at the turn of the millennium, P3 has grown from humble beginnings to a Top 5 European logistics real estate player. Today, P3 has ~6.3 million m² of high-quality warehouse space in 11 European markets. More than 450 tenants from the retail, eCommerce, traditional 3PL and automotive sectors serve the needs of their customers from a P3 property.
P3’s dynamic growth trajectory has been characterized most strongly since 2016, when the company was acquired by GIC, the sovereign wealth fund of Singapore. Since that time, the company has almost doubled in value to where it stands today, ~€ 7 billion, and has developed ~1.8 million m² of new warehouse space, with a current pipeline of a further 800,000 m². P3’s growth has been buoyed by favorable market conditions for logistics space providers, including the accelerated adoption of eCommerce, and the evolution of customer shopping habits.
Frank Pörschke, CEO of P3 Logistic Parks, says: “P3 has grown to a dynamic and exciting company with aspirations to become THE leading investor in logistics real estate in Europe. We are an international company that is truly on the ground in different markets, and that is unique for investors. Our greatest strengths lie in our long-term view in terms of investment, development, and ownership of the properties we operate and in our full range of services, from procurement and construction to asset and property management. We want to provide our customers with the right skills and attitude to achieve excellence, and at the same time offer a great place to work for the best talents.”
In the next XX years, P3 plans to grow through further expanding its development business, and seeking investment opportunities – both large, European-wide portfolios, as well as the smaller single-asset deals within a local market.
Otis Spencer, CIO of P3 Logistic Parks, says: “The market has heated up considerably, but relying on our investment expertise we still see many attractive opportunities. We will keep actively making deals to grow our portfolio further. We recently completed the acquisition of a 112,000 m² portfolio in Spain and are currently in the run for several other deals across Europe.”
David Marquina, CDO of P3 Logistic Parks, says: “Development is one of our core strengths, so we see it as a main source of growth moving forward and are looking for the best projects on the market. The lack of available land is the biggest current issue in many countries, but our teams work closely with our partners to source land and to design warehouse space to suit the specific requirements of our customers. Where possible, we focus on brownfield developments, which are the better choice and the right thing to do in regard to the environment. And, although we are a dedicated logistics player, our development skills also allow us to do something at the edges like last mile, cold storage or data warehousing.”
The XX symbol represents P3’s 20 years on the market. It was selected as a bold symbol and a clear “mark of intent” for the future. P3 has become one of the strongest and best-recognized real estate brands, synonymous with good service to its 450+ customers and supplier network. Earlier in 2021, P3 was named as the Strongest Brand in Southern Europe and was awarded the special award Strongest Brand Growth in Europe from all real estate categories by the EUROPEAN REAL ESTATE BRAND INSTITUTE.
Find out more about P3’s 20-year history in this brand-new anniversary film: https://www.youtube.com/watch?v=DehtfGEEUyM