Montea scoops Dutch and French logistics assets for €90m

Belgian-listed logistics investor Montea said it has purchased three logistics properties in the Netherlands and one in France for a total amount of €90 mln.

The three Dutch properties are located in Zeewolde, Almere and Zijndrecht, while the French asset is located in Avignon. Together they comprise 152,000 m² of land and 76,000 m² of storage, mezzanine and office space.

The Zeewolde and Almere properties were purchased under sale & leaseback terms and are let for 10 years. They encompass 61,600 m² of land and 37,650 m² of logistics, mezzanine and office space.

The asset in Zwijndrecht (64.000 m² of land and 25.700 m² of warehouse production space) was purchased from LCN Capital Partners and is let to Jiffy Products with 14 years remaining on the lease. BNP Paribas Real Estate advised on the transaction.

The 12,700 m² warehouse in Avignon (on a site covering 26,500 m²) is let to DPL France Rozenbal, a  household goods manufacturer.

Montea said the acquisitions boost its portfolio by 4.5%, providing an immediate net return of around 4.8% or a total rent of circa €4.3 mln. They increase the Dutch share of the portfolio to more than 45%, with the French share currently standing at 12%.


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