McDermott advises P3 on the acquisition of a 52,000 sq m brownfield site from Delta Development

McDermott Will & Schulte has advised P3 Logistic Parks GmbH (“P3”) in connection with a forward-funding transaction for the acquisition of a 52,000 square meter brownfield site in Bornheim, Germany, from Delta Development.

P3 and Delta Development are planning a modern logistics property with a total leasable area of 31,600 square meters on the development site in Bornheim near Cologne/Bonn. The property will be divided into three separable units, making it attractive to a wide range of tenants, from medium-sized logistics service providers to large-scale distribution operators. The infrastructure includes approximately 60 car parking spaces, 13 truck parking spaces, and 16 electric vehicle charging stations for passenger cars.

Headquartered in Hoofddorp, the Netherlands, Delta Development is a real estate developer and investment manager focused on sustainable logistics properties.

P3 is a long-term investor, manager, and developer of European warehouse properties with more than 9.7 million sq m of assets under management and land bank of 3.5 million sq m for further development. Headquartered in Prague, P3 employs more than 280 people across 11 offices in key European cities, providing integrated development, asset and property management services.

The McDermott team was led by partner Maximilian Clostermeyer and included counsel Marcus Fischer, as well as associates Carina Schützeberg, Tina Happ, and Tatjana Kuhlen