The joint venture has been launched with a portfolio of four high quality development projects located in the main logistics locations of Madrid along the Corredor del Henares and two operating assets in Zaragoza. They all add up to 250,000 m2. The portfolio is already pre-rented by 80% to leading logistics operators with a final WALT (weighted average lease period) of 11 years.
In addition, the joint venture has already identified eleven opportunities of development totaling more than 300,000 m2.
CBRE Global Investors' Europe Value Partners fund manager, Charles Baigler, has pointed out that this alliance "fits perfectly with our new added value strategy in Europe of creating core assets in limited supply markets. The logistics sector is key to our funds and we are very satisfied with our agreement with Montepino, a first level logistics developer with an outstanding path in the promotion of high quality assets in privileged locations.”
From the company Montepino its vice president of operations, Juan José Vera, has pointed out that the creation of this joint venture with CBRE Global Investors, as "international reference partner", facilitates for the Aragonese firm "to maintain leadership in the inmologistic sector of the Spanish market". The CEO of Montepino, Juan Vera, recalled that logistics is experiencing a moment of "real boom" in the demand of tenants, and therefore operations like the one that has been signed are necessary.