Bankinter's logistics company, which emerged after the purchase of Montepino, becomes a Socimi and should go public in the next two years.
In addition, it plans to carry out a capital increase of 250 million euros to boost its growth, to which two main shareholders, Bankinter and Valfondo, have already confirmed their participation. The shareholders are made up of Bankinter (6.4%), Catalana Occidente (6.3%) and Valfondo (5.1%).
The company has detected opportunities worth 300 million euros and must finance these purchases. Additionally, it has a line of credit for 55 million euros with Bankinter that must be used in the coming weeks.
The logistics company's portfolio has operational and ongoing logistics platforms in Toledo, Guadalajara, Madrid, Zaragoza, Barcelona and Malaga. The origin of the portfolio is in the alliance signed at the end of 2017 by the fund manager Cbre GI and Montepino to create a joint venture.
Brookfield and Bankinter were the two finalists who managed to reach the final stretch in the purchase of the mega-portfolio valued at 1,200 million euros, for which other investors such as Allianz, Apollo, the Singapore fund GIC and AXA, among others, had bid. .
To continue with the expansion plan for its logistics division, the bank plans to increase its capital by up to 26.47% to raise 250 million euros and thus finance its growth. The loan to value of the new Socimi is 29%, although it can reach 60%. The total of its liabilities amounts to 313.47 million.
The capital increase process will begin on March 29 with the start of preferential subscription and will end on May 12 with the registration of the public deed of the capital increase in the commercial registry.
