Bankinter Investment has agreed to purchase Montepino's portfolio of logistics assets from CBRE Global Investors, which owns 95% of Montepino's share capital. The operation has been advised by Morgan Stanley and CBRE.
The purchase will be carried out through an alternative investment vehicle, in this case a Socimi, which will be specifically created by Bankinter Investment. It will contribute 40 million to the capital of the new company, which will have exclusively its private and institutional banking clients as shareholders.
In this way, Bankinter will be the main shareholder, with a 6.4% stake, while Valfondo, current portfolio manager and who will remain in this role after the operation, will exceed 5.1%. Furthermore, Bankinter's plans include the possibility of the new Socimi going public on BME Growth, where other similar companies of the entity are already listed.
Montepino's portfolio is made up of 22 logistics assets, with a gross area of 865.000 sqm and 13 projects under development with which it is expected to exceed 1.2 million sqm, that is, 500.000 sqm new to rent in the coming years. In addition, the gross value of the assets amounts to 1.200 million euros.
The signing of the agreement closes an open competitive process in which other international entities have participated and which, finally, Bankinter Investment has achieved after several weeks of negotiations.