Berlin—Global law firm Dentons has advised project developer P3 Logistic Parks ("P3") on the acquisition of a light industrial property in Cologne by way of a share deal. The parties have agreed not to disclose the purchase price.

The property with a leasable space of approximately 15,700 square meters is located in Niehl, one of Cologne’s most important commercial and industrial areas. It is fully let to Romaco Kilian GmbH, a leading global supplier of tabletting equipment for the pharmaceutical, cosmetics, food and chemical industries. With this acquisition, P3 is moving its assets even closer to downtown and convenient locations, offering companies the opportunity to maintain a wide variety of warehousing, packaging or smaller production facilities in urban centers.

P3 is an owner and developer of European logistics properties with currently around 6.3 million square meters of lettable space. Headquartered in Prague, the company employs more than 200 people in eleven offices across Europe and supports clients from a wide range of industries from site selection, permitting, procurement and construction of logistics properties to property management. P3 is wholly owned by GIC, Singapore’s sovereign wealth fund.

A Dentons team led by Volker Mergener (Real Estate) and Dr. Dominik Thomer (Tax)advised P3 Logistic Parks on the transaction. Volker Mergener has regularly advised P3 on asset management and transactions for several years.

Advisors to P3 Logistic Parks

Dentons (Berlin/Düsseldorf): Volker Mergener (Partner, Lead), Dr. Jonas Ulmrich (Senior Associate, both Real Estate, both Berlin), Dr. Dominik Thomer (Partner, Düsseldorf), Holger Hölkemeier (Senior Associate, Berlin, both Tax)

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