P3 Logistic Parks, has hired former JLL EMEA markets president Frank Pörschke as its new CEO.
Pörschke, who assumes the role on 1 April, takes over from Tim Beaudin who has been CEO since 2019 and was previously board chairman. Beaudin is stepping down as part of a planned leadership transition.
Pörschke currently holds several board positions at European real estate investment firms and fund managers including Axa Investment Managers Deutschland, Deka Immobilien and ECE, and his previous roles have included spells as president, EMEA Markets, at JLL; CEO of Eurohypo; and CEO of Commerz Real.
In the past 12 months, P3 has acquired more than €2 billion of property, increasing its gross lettable area by 48% to more than 6.5 million sq m. The firm said that Pörschke’s appointment is part of “a strategic transition plan for P3’s move into its next stage of growth”.
Pörschke commented that: “P3 is extremely well positioned in a highly attractive market segment.”