Dentons has advised Singapore sovereign wealth fund GIC's P3 Logistic Parks subsidiary on its acquisition of two logistics assets in the UK from Segro.
P3 is a long-term investor, manager, and developer of warehouse properties in Europe with more than 7.9 million square meters of assets under management. P3 has commercial activities in 12 countries and has been investing and developing in European markets for almost two decades. It is 100% owned by GIC, the sovereign wealth fund of the Government of Singapore.
Segro is a UK real estate investment trust listed on the London Stock Exchange and Euronext Paris, and an owner, manager, and developer of warehouses and industrial property.
According to Dentons, this represents P3's first entry into the UK market. ”All units are fully let and were developed with grade A institutional specification including a BREEAM Very Good rating.”
“The acquisition of these two logistics assets in the UK marks a significant milestone for P3, as it expands our operations into a key market known for its robust logistics industry,” P3 Logistic Parks CEO Frank Poerschke commented. “The country has always been a vital hub for international trade and commerce, and we are excited to offer our expertise and resources to meet the evolving needs of businesses operating in this region.”
The Dentons team included Partners Alex Coulter, Rob Thompson, Jonathan Cantor, and Mark Macaulay, Counsel Alastair Macleod, Senior Associates Stephanie Hendy, Hugo Gerrard, Chris Northway, and Tessa Birch, and Associates Rohini Vekaria and Rebekah Hobbs.
Dentons did not respond to our inquiry on the matter.