Montea acquires logistic properties in Belgium and the Netherlands for €42.2 million (NL/BE)

Montea (MONT) announced a €42.2 million increase of its property portfolio.  

The portfolio in the Netherlands increased by €25.6 million as a result of the start-up of a 25,600 m² built-to-suit project in Oss and the acquisition of a 19,500 m² logistics distribution center in  Waddinxveen.

The portfolio in Belgium increased by €16.6 million and includes a 9,000 m² built-to-suit project for Dachser at MG Park De Hulst in Willebroek and the development of a 3,500 m² built-to-suit project for Metro in Vorst.

These four transactions, with an average fixed term of 14 years, represent a total investment value of €42.2 million and will generate additional rental income of €3.28 million at completion in the course of 2014, based on an initial gross yield of 7.8%.

Source: Montea

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