PRAGUE, Czech Republic, Oct. 16, 2013 /CNW Telbec/ - TPG, a leading
global private investment firm, with its partner Ivanhoé Cambridge, one
of the world's largest real estate companies, have acquired PointPark
Properties (P3) from Arcapita, an international investment company. As
part of the transaction, the investors will also commit additional
capital to strengthen P3's balance sheet and to provide support for
future growth.
P3 is a specialist investor, developer and asset manager of warehouse
properties, providing a first class service to logistics, retail,
automotive and electronics manufacturing companies. The real estate
assets consist of 48 warehouses (approx. 1.46 million m2 / 15,7 million ft2) and a land bank allowing for the development of more than 590,000 m2 (approx. 6.4 million ft2) of warehouse space across Europe.
Ian Worboys, CEO of P3 said:
"After 5 years working with Arcapita, who successfully assembled this
portfolio, we look forward to TPG and Ivanhoé Cambridge becoming long
term investors in P3. TPG and Ivanhoé Cambridge were attracted to P3 by
our warehouse expertise, cohesive management platform and high quality,
geographically diverse portfolio. The new investment will allow us to
accelerate the expansion of our activities in our existing and new
markets.
We are now in a position with our current land bank to build upon our
established customer base. P3 will also look to enhance its existing
portfolio by acquiring quality income producing warehouses in key
logistic locations."
Anand Tejani, TPG Partner said:
"P3 is a leading, full-service logistics platform with a high-quality
portfolio of warehouse assets located in Europe's core distribution
hubs. P3 is well-positioned to benefit from the positive macro trends
driving the current growth in occupational demand for European
logistics space."
"We are delighted to be working with P3's high-calibre management team
and with Ivanhoé Cambridge to support P3's next phase of growth
including new portfolio acquisitions and development projects."
Meka Brunel, Executive Vice President, Europe, at Ivanhoé Cambridge
said:
"This strategic investment represents a unique opportunity to acquire a
large and independent logistics platform in Europe. With assets
strategically positioned along major air, sea and rail transport
routes, P3 offers a very attractive growth potential, and will
contribute to the diversification of our real estate portfolio.
The strong growth trend in e-commerce can only benefit the logistics
industry in the long term and offers an opportunity to generate
excellent returns from changing consumer lifestyles in Europe."
About PointPark Properties (P3)
PointPark Properties (P3) is a specialist investor, developer and asset
manager of warehouse properties. Headquartered in Prague and active
across Europe, P3's asset base comprises 48 warehouses and a land bank
with more than 590,000 m2 for potential development. P3's mission is to
provide warehouse tenants with a first rate occupancy experience at a
competitive cost. When P3 develops, it delivers environmentally
sustainable warehouses to the highest international standards.
Arcapita
Arcapita is a global alternative investment management firm.
Headquartered in Bahrain with offices in Atlanta, London and Singapore,
Arcapita's principal lines of business are private equity, real estate,
infrastructure and venture capital. Arcapita's Real Estate Group has a
long established track record in the industrial warehousing and
logistics sectors, having invested in several ventures in the US,
Europe, the GCC and Asia. Further details on Arcapita can be found at www.arcapita.com
About TPG Real Estate
TPG Real Estate is the real estate platform of TPG, a leading global
private investment firm founded in 1992 with $55.3 billion of assets
under management and offices in San Francisco, Fort Worth, Austin,
Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow,
Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. TPG
has extensive experience with global public and private investments
executed through leveraged buyouts, recapitalizations, spinouts, joint
ventures and restructurings. The firm's real estate transactions have
included ST Residential, Catellus Development Corporation, Taylor
Morrison Home Corporation (NYSE:TMHC), Parkway Properties, Inc.
(NYSE:PKY), Merin BV, M West Holdings, L.P., the Woolgate Exchange
building in the City of London, Assisted Living Concepts, LLC, and AV
Homes, Inc. (Nasdaq:AVHI), among others. For more information visit www.tpg.com.
About Ivanhoé Cambridge
Ivanhoé Cambridge is a world-class real estate company that leverages
its high-level expertise in all aspects of real estate including
investment, development, asset management, leasing and operations, to
deliver an optimal return for its investors. Through its multiple
subsidiaries, its assets in more than 20 countries are valued at over
Cdn$35 billion as at December 31, 2012. Ivanhoé Cambridge is a real
estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more
information, visit ivanhoecambridge.com.
SOURCE Ivanhoé Cambridge
