Montepino has acquired a plot of land for logistics development with a total area of almost half a million square metres from Novo Banco, located in Carregado, next to the Castanheira do Ribatejo junction. Bankinter Investments and the Valfondo fund, Montepino's portfolio managers, are investing for the first time outside Spanish territory, according to CBRE.
The land has a total area of 414,000 square metres and a leasable area of 147,000 square metres. Spain's Montepino has thus teamed up with Bankinter to enter Portugal with what is considered the largest logistics investment of the decade. CBRE advised Montepino on the acquisition of the plot, while RPE Portugal organised the sale process on behalf of the seller.
Tim Seconde, Head of Capital Markets of RPE Portugal, confesses that they are "very proud to have concluded a complex but excellent logistics land sale, which has been a good result for our client, and also to have facilitated Montepino's first international acquisition".
Nuno Nunes, Head of Capital Markets at CBRE Portugal, says that this is "the biggest and best land for development in Portugal, with scale, visibility and accessibility of excellence, considering the ideal factors in the logistics context. All the ingredients for a successful project are here".
The land already has all the necessary authorisations and licenses to start construction and at this stage the first urban planning works are already underway. The promoter believes that the construction work, with a view to building innovative logistics warehouses, may begin this year. Nuno Nunes indicates that there are already potential tenants showing interest in the project, demonstrating that "construction in the industrial and logistics sector in Portugal continues to be a safe bet".
