Clifford Chance with P3 on the acquisition of a portfolio of VIB Vermögen

Global law firm Clifford Chance has advised logistics specialist P3 on the acquisition of twelve logistics properties from VIB Vermögen, a subsidiary of Branicks. The total rental space amounts to 269,000 square meters. The portfolio comprises twelve logistics assets located in Germany’s southern region, near the cities of Nuremburg, Ingolstadt, Augsburg and Munich. The transaction is expected to close in the coming weeks.

Half of the acquired properties are equipped with solar systems, four are DGNB Gold or BREEAM Excellent certified. P3 plans to modernize the remaining properties so that they achieve at least the BREEAM In-Use Standard “Very Good” or an equivalent standard. The acquisition increases P3’s portfolio by around 12% to a total of 2.49 million square meters of rental space in 91 properties across Germany.

Gerold Jaeger, Real Estate Partner at Clifford Chance, stated: “The transaction is further proof that the market for logistics properties is steadily recovering. I assume that we will see further large-volume transactions in the segment in the course of 2024.”

The Clifford Chance team comprised partner Gerold Jaeger (PICTURED), senior associate David Rahmel (both Düsseldorf), Ahmad Zaheri (Frankfurt), Meike Kirschner (Munich), senior transaction lawyer Birgit Seyfert (Frankfurt), senior legal support assistant Sabrina Becker (Frankfurt, all Real Estate), senior associate Philip Rosak (Global Financial Markets, Frankfurt), partner Olaf Mertgen and senior associate Steffen Waadt and associate Nicolas Jüttner (all Tax, Frankfurt), partner Stefan Sax, counsel Harald Amer and senior associate Joseph Saed (all Restructuring, Frankfurt and Munich), partner Dimitri Slobodenjuk, senior associate Johannes Lüer and associate Lisa Rotterdam (all Antitrust, Düsseldorf).