Montea Acquires Major French Logistics Portfolio from Tristan Capital Partners

28 Sep, 2024

Montea Acquires Major French Logistics Portfolio from Tristan Capital Partners

Belgian real estate investment trust Montea has embarked on an ambitious growth strategy by acquiring 17 assets from the Reverso portfolio, previously owned by Tristan Capital Partners. This acquisition, part of Montea’s four-year growth plan dubbed Track27, represents an investment of nearly €150 million and promises a net initial yield of 5.6%. The logistics assets, spanning a total built-up area of 80,000 square meters, are strategically located across France, primarily leased to the reputable French haulage company Jacky Perrenot.

Montea’s investment strategy emphasizes sustainability and land use efficiency, as the portfolio features a low land use density of approximately 12%. The company is also considering redevelopment and expansion projects on 650,000 square meters of land associated with the acquisition, potentially increasing the yield on the operation to 7%. With plans to grow its portfolio in France from €250 million to €400 million, Montea aims to align its French and German assets with the quality and volume of its Belgian and Dutch holdings.

To support the Track27 plan, Montea is executing a €150 million capital increase, allowing for an investment capacity of €250 million to €300 million in 2024, significantly bolstering its presence in the European logistics market.