P3 owns 48 warehouses totalling 15.7m square feet and a land bank allowing for the development of 15.7m square feet of warehouse space across Europe.
TPG partner Meka Brunel said, “This strategic investment represents a unique opportunity to acquire a large and independent logistics platform in Europe.
“With assets strategically positioned along major air, sea and rail transport routes, P3 offers a very attractive growth potential, and will contribute to the diversification of our real estate portfolio.
“The strong growth trend in e-commerce can only benefit the logistics industry in the long term and offers an opportunity to generate excellent returns from changing consumer lifestyles in Europe.”
TPG’s other recent deals in real estate include a $108.6m investment in Beijing-basedproperty developer Xinyuan Real Estate.
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