![Caisse, TPG acquire P3](https://www.benefitscanada.com/wp-content/uploads/sites/7/2011/11/European-Union-EU-flag.jpg)
Ivanhoé Cambridge, the Caisse de dépôt et placement du Québec’s real estate subsidiary, and private equity firm TPG have teamed up to acquire PointPark Properties (P3).
They purchased the company from international investment company Arcapita for an undisclosed amount.
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.
Prague-based P3 is a specialist investor, developer and asset manager of warehouse properties. The real estate assets consist of 48 warehouses in Europe and land allowing for the development of additional warehouse space across the continent.
“This strategic investment represents a unique opportunity to acquire a large and independent logistics platform in Europe,” says Meka Brunel, executive vice-president, Europe, at Ivanhoé Cambridge. “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.”
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