P3 Logistic Parks to exit Romania

Real estate developer CTP and investment fund Lion’s Head Investments have entered into co-exclusive negotiations with P3 to acquire the P3 Bucharest A1 logistics park, according to market sources. The deal is expected to exceed EUR 270 million.

In Romania, P3 owns P3 Bucharest A1, which has an area of 380,000 square meters and access to the A1 highway. It includes 14 warehouses and a plot of land that allows for the construction of another 100,000 square meters of logistics space. The park also has accommodation for workers, with a capacity of 252 beds, and a restaurant for 200 people. In P3's accounting, the park is valued at around EUR 252 million and generates annual rental income of around EUR 23 million from clients such as Carrefour, Emag, Altex, Gebrüder Weiss, Interbrands, Elit and Agricover.

P3 has received offers from 4 players interested in acquiring the park in western Bucharest, and has now entered into co-exclusive talks with two of them, with the plan to choose a buyer by the end of this year. The transaction has the potential to become the most expensive sale ever recorded in the industrial sector of the local real estate market.

Source: Profit.ro