Montepino, Bankinter Socimi managed by Valfondo, will invest 327 million euros in a logistics macro-platform in Illescas (Toledo). The project will be built on a 680,000 m2 plot, with a gross leasable area of 424,000 m2. The complex of nine logistics buildings will be located in the Los Pradillos II industrial estate in the municipality of Toledo, with access to the A2 and the A-42 motorway.
According to various media reports, Montepino has already begun construction plans for the complex and is currently developing the first three properties on the platform, which it has already pre-leased.
The socimi hopes that the first of the projects, 120,000 m2 of rentable area, be ready by the end of the second trimester. The other two buildings, one of 76,000 m2 and the other of 58,173 m2, will be delivered in 2023 and 2024 if the company’s construction plans are fulfilled.
Montepino Logística has a gross asset value of around 1,200 million euros and will debut on Euronext Paris at the end of the first semester. The financial entity has chosen VGM Advisory Partners as registered advisor for the process, which has already served as Bankinter’s consultant in two other REITs of the banking group: Ores and Atom.
The main shareholders of Bankinter Logística are Bankinter customers. The origin of the portfolio is in the alliance signed at the end of 2017 by the fund manager Cbre GI and Montepino to create a joint joint venture.