TPG Capital and Ivahoe Cambridge Inc of Montreal bought warehouse landlord P3 Plc from Arcapita Bank. Ivanhoe is the real estate unit of the state pension fund of Quebec while P3 is a Europe-based logistics company. P3 has an estimated portfolio valued of EUR 760 million or USD 1 billion based on a planned share sale that was supposed to take place last year.

Ivanhoe Cambridge's Executive Vice President for Europe Meka Brunel said the acquisition was a strategic investment. He also said it represented a unique chance to purchase an independent logistics platform in Europe. "With assets strategically positioned along major air, sea and rail transport routes, P3 offers a very attractive growth potential," Brunel added.

Citing an October report from Investment Property Databank Ltd, Bloomberg reported that logistics properties posted returns of 7.1% last year. This was higher compared to the 5.5% returns generated by commercial real estate. This has caused private equity firms like Blackstone Group to plan on increasing its holdings in the segment in the next couple of years, Bloomberg reported.