The listed logistics real estate investor and developer Montea is acquiring a portfolio of ten logistics properties with a total value of EUR 343 million from Weerts Logistics Parks (WLP). The properties comprise a lettable area of approximately 310,000 square metres. Eight of the assets are located in Italy and two in Germany. With this step, Montea also marks its market entry into Italy, which becomes the company's fifth core market alongside Belgium, the Netherlands, France and Germany.
The acquired properties are fully let or pre-let and feature an internationally diversified tenant base. With an average net initial yield of 5.7 per cent, the weighted average unexpired lease term (WAULT) stands at 16 years, providing the portfolio with a long-term stable income profile.
Expansion of the portfolio in Germany
In the German market, Montea is strengthening its footprint with two logistics assets in established economic regions. The property in Hanover offers a lettable area of 10,372 square metres, while the asset in Schkeuditz, south of Leipzig, comprises 40,819 square metres. Montea also recently acquired a logistics property of around 23,000 square metres in Cargo City South at Frankfurt Airport.
According to Jo De Wolf, Chief Executive Officer of Montea, the acquisitions in Hanover and Schkeuditz double the company's platform in key German logistics locations from three to six properties. He noted that Germany remains a central core market where the company continues to work consistently on its future-oriented positioning.
Market entry and development partnership in Italy
In Italy, the company is securing eight properties along the Rhine-Alpine Corridor. The market environment is characterised by limited supply of modern space, sustained rental growth and high occupier demand. Alongside the acquisition, Montea and WLP agreed on an exclusive development partnership for the Italian market running until 2030. The objective of this collaboration is to at least double Montea's Italian portfolio using local development expertise.
The transaction will be financed through the issuance of new Montea shares to WLP. The agreed issue price is EUR 82.97 per share, representing a 1.3 per cent premium to the most recently reported EPRA net tangible assets (EPRA NTA) of EUR 81.92 per share. The new shares will be entitled to dividends from the 2027 financial year. Following completion of the transaction, WLP will hold a ten per cent stake in Montea. Closing is subject to the approval of an extraordinary general meeting on 3 December 2026 and is expected around 15 December 2026. For the 2026 and 2027 financial years, Montea reaffirmed its forecast annual growth in EPRA earnings per share of seven per cent.
