Clifford Chance

Clifford Chance advises P3 Spain Logistic Parks SOCIMI on the restructuring of its European logistics portfolio

A multijurisdictional Clifford Chance team based in Madrid and Prague has advised P3 Spain Logistic Parks SOCIMI, S.A., a Spanish REIT, 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, head of the Spanish REIT practice of Clifford Chance, supported by tax associates Fernando Escribano and Carlos Carrera on the Spanish tax matters, Spanish Corporate associates Lucía Herrero on the day-to-day management of the implementation of the restructuring and Samuel Rosas 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.