TPG Real Estate and Ivanhoe Cambridge has put the developer and operator of industrial parks P3 on the market for CZK 70bn (€2.5bn). Consultants Eastdil Secured, part of Wells Fargo group, will broker the sale. An IPO was reportedly under consideration as well, but a direct sale was the preferred option in the end. Pointing to Estates Gazette as a source, Hospodářské noviny writes that the developer with a total of 163 warehouses in its portfolio is active across nine European countries. In the Czech Republic, P3 operates 14 parks, with tenants like Mall.cz, Alza.cz and Lego. TPG Real Estate and Ivanhoe Cambridge bought P3 three years ago.
