P3, which is owned by TPG Real Estate and Ivanhoé Cambridge, is one of Europe’s largest fully integrated logistics platforms. The successful refinancing highlights the strength of P3’s strategy, assets and client base and will provide the Group with significant additional flexibility to support its growth strategy.
The facilities have been agreed as follows:
P3’s Chief Financial Officer, George Aase said: “We are pleased to have secured this competitive long term refinancing. Our existing financing partners have been very supportive of our pan-European growth strategy, further enhanced now with several new lenders. Long-term relationships with our lenders are invaluable to P3 as the Group continues its path of sustainable value creation, and these new arrangements provide the flexibility to take advantage of the Group’s current and future opportunities. We are grateful for the market expertise and execution support from our advisor, Eastdil Secured.”
Anand Tejani, Partner at TPG Real Estate, said, “We are delighted with the progress made by P3 and its management team since our initial acquisition. Over this period, P3 has become one of the largest fully-integrated independent logistics platforms in Europe, with in-house acquisition, development, leasing, and property management capabilities. This attractive refinancing positions the company well to continue to expand its business and support its customers.”