CC counsels P3 Spain Logistic Parks on its portfolio restructuring

Clifford Chance has advised Real Estate investment trust P3 Spain Logistic Parks on the restructuring of its European logistics portfolio

The transaction consisted of a cross-border restructuring involving the contribution to the Spanish REIT of 5 entities, thereby increasing the gross asset value of P3 Spain Logistic Parks SOCIMI’s logistics portfolio.

The transaction was particularly complex due to its cross-border nature and the fact that the value of the contribution to be made was higher than the value of the Spanish REIT prior to the contribution, leading to a special new listing process on BME Growth. The listing of the newly issued shares in the BME MTF Equity segment was approved by BME Growth on 27 September 2021.

The Clifford Chance multijurisdictional team advising P3 Spain Logistic Parks SOCIMI was led by partner Pablo Serrano de Haro (pictured centre), head of the Spanish REIT practice of Clifford Chance, supported by Tax associates Fernando Escribano (pictured top left) and Carlos Carrera (pictured bottom left) on the Spanish Tax matters, Spanish Corporate associates Lucía Herrero (pictured top right) on the day-to-day management of the implementation of the Restructuring and Samuel Rosas (pictured bottom right) on the Spanish Corporate matters, counsel Petr Šebesta on the Czech Tax matters and counsel Michal Jasek together with associates Jakub Veselý and Martin Urban regarding the Czech Corporate matters.