PointPark Properties extends lease with DHL
PointPark Properties (P3) has closed a significant transaction on the German logistics real estate market. DHL, one of the world’s largest logistics services providers, has signed a five-year lease extension for 32,863 sqm at P3’s asset located in Mörfelden.P3 successfully completed Build-To-Own project for Audia Plastics
PointPark Properties (P3) has announced the successful completion of a Build-To-Own project for Audia Plastics and its affiliates Washington Penn Plastic and Uniform Color Company. This warehouse and production facility is situated in Trnava-Voderady, Slovakia and comprises 17,200 sqm of warehousing space, including 1,500 sqm of offices. P3 provided management services for the acquisition, development, construction and fit-out of this 11 million euro investment. The project commenced in September 2010, followed by the site-acquisition, project design and implementation and then completion with receipt of the final occupancy permit in December 2011. The official handover took place on February 8, 2012. The facility will be a significant employer in the region once full operation is reached.P3 management team expands
LONDON, UNITED KINGDOM | P3 TEAM ADDS ANOTHER PROFESSIONAL
The newest member of PointPark Properties management team Mike Forster has been appointed Managing Director of P3 United Kingdom, starting November 7, 2011.
A former Director of Burford Group and Valad Property Group, Mike has over 25 years high level experience in the Industrial development and Investment market. This has encompassed creating some of the UK’s largest Distribution Parks, such as Western Approach and Cabot Park, as well as directing funding operations at Valad Capital Services. Such valuable experience in the local and international real estate business have given him rich professional knowledge in the fields of development and asset management, which will be central to P3 expanding its successful Pan European Asset Management operations into the UK. P3 currently has over 1.5 million square meters of assets under management in 10 European countries, and the company now has a UK platform to grow from.
“Joining P3 is a fascinating opportunity to lead a well established and growing Pan European asset management and development business with a fantastic track record and reputation, into the UK. This is a natural progression to becoming a global provider and asset manager of warehouse properties, and we are already seeing a variety of business opportunities for P3 to seize within the UK,“ says Mike Forster.
“Mike has very valuable experience in managing development opportunities. He will be responsible for further developing P3 in the logistics real estate market throughout the United Kingdom as well as acquiring and managing assets for our numerous international investment clients. Thanks to Mike, we can now offer our clients an even higher quality of service,” says Ian Worboys, P3´s CEO.