P3 Logistics, which is controlled by the sovereign wealth fund of Singapore (GIC), has finalised a deal to acquire a logistics portfolio, known as the Pulsar Portfolio, for more than 100 million euros.
The Pulsar Portfolio consists of four logistics assets located in Ontígola (Toledo), Parets del Vallès (Barcelona) and two in Torija (Guadalajara). KKR and Round Hill acquired these assets in January 2019 through a joint venture created specifically for the transaction.
At the time of the acquisition, the assets were under development, which the Spanish company Pulsar Properties undertook.
KKR and Round Hill had planned to further boost the joint venture with new logistics investments in prime locations in Spain and Portugal and to expand its logistics platform in Southern Europe. In the end, the two partners to sell the assets for €105 million, according to industry sources.