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P3 Buys Five Warehouses and Takes On Financing

The transaction is part of P3’s, the subsidiary of the sovereign wealth fund of Singapore, acquisition of the Pulsar portfolio from KKR and Round Hill.

Plataforma logistica de KKR en Torija vendida a P3 1

P3 Logistics, controlled by Singapore’s sovereign wealth fund (GIC), has finalised its acquisition of five companies within the Pulsar portfolio, a transaction reported exclusively by Brainsre.news. Each of these companies, for which it has paid 51 million euros to KKR and Round Hill, owns a logistics warehouse.

It has also assumed the financing. On the one hand; it has received a loan from P3 Czech Holdco, P3’s parent company, for €62 million at 10 years and an interest rate of 4.27%. Then, it has subrogated €55-million loan to the portfolio, which was granted by Baring.

The warehouses are located in Torija (Guadalajara), Fontanar (Guadalajara), Ontígola (Toledo) and Parets del Vallés (Barcelona). They total 110,000 square meters, leased to El Corte Inglés, Factor 5, Logisfashion, TXT and XPO Supply Chain Spain. They are valued at €107.3 million and the company will obtain a gross profitability of 4.4% from the deal.

Read the full article in Spanish

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