Montea first foothold in Germany

In its quarterly financial and management report Montea, the logistics real estate investor and developer listed on Euronext, says that it is firmly on track with its investment round. The company is referring to its investment agenda named Track24 with which Montea intends to invest 800 million Euros by 2024. 200 million Euros of this has already been placed.

Montea took its first steps in Germany during the third quarter of 2021 with the purchase of a grey field site of approximately 83,000 m² in Mannheim. The site is leased for 8.5 years to German company FDT Flachdach. As soon as this lease expires, the grey field site will be redeveloped into a sustainable logistics area. Mannheim is located in the centre of the Rhein-Neckar metropolitan region, one of the strongest logistical and economic growth poles in Germany.

In the same quarter Montea also signed a sale and lease back agreement for a logistics building located on a 2.8 hectare site in Leverkusen. The building is currently leased to TMD Friction Services GmbH. Upon expiry of the lease, the building will be redeveloped into a city distribution centre. Leverkusen is located on the outskirts of Cologne, the fourth largest city in Germany.

Montea is continuing its growth story with a focus on the (re)development of strategic sites near major centres of consumption.