GIC subsidiary P3 buys 33 retail logistic real estate assets in Germany

The acquisition is expected to close in Q4.

GIC’s wholly-owned company P3 Logistic Parks (P3), a manager and developer of European warehouse properties, has signed an agreement to acquire a portfolio of retail logistics real estate assets in Germany, according to a press release.

The Matrix Portfolio comprises of 33 retail logistic assets in major German cities and towns, including Berlin, Dortmund, Nuremburg, Hamburg, Hanover, Cologne, Dresden and Leipzig. P3 will manage the portfolio.

The acquisition is expected to close during Q4.

This comes within 12 months after the acquisition of the Maximus portfolio, this time comprising 28 assets located in core logistics hubs across Europe.