TPG, Ivanhoé Cambridge to sell P3 to Singapore's GIC: Reuters
U.S. private equity investor TPG has agreed to sell its logistics property business P3 Logistics Parks to Singapore's sovereign wealth fund GIC in a deal which values the business at 2.4 billion euros (US$2.65 billion), Reuters reported. The deal was described as the largest European real estate transaction this year and comes as investors seek to exploit a boom in online retailing which is driving warehouse demand. TPG Real Estate and its partner Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, bought the Prague-based business in 2013 and have grown its portfolio in recent years through a series of add-on acquisitions.
7 November 2016•2 mins read
