Manager Valfondo Investment Management and the investment arm of Bankinter, Bankinter Investment, have completed a €250 mln capital hike of Montepino's logistics portfolio, taking it to nearly €900 mln.
Over 22 million shares were subscribed during the third and last capital hike, at a unit value of €10.95, a 9.5% appreciation on the share price in May 2021.
Following the capital increase, Montepino is now the largest specialised portfolio in Spain.
Since acquiring Montepino's logistics portfolio, Valfondo has managed more than €100 mln in investments, comprising 30 assets with a gross leasable area (GLA) of more than 500,000 m2, whose market value has risen by over 6%.
As part of its growth strategy, Valfondo is investing a further €300 mln through Montepino, for the purchase of land and the development of more than 350,000 m2 of GLA.
This will allow the opening of new logistics platforms that will be located in Castellbisbal (Barcelona), Illescas (Toledo) Guadalajara, Marchamalo, Alicante, Zaragoza and Malaga.
In turn, Montepino has disposed of over one million m2 worth €1.2 bn, across 27 assets with a total income of €50 mln per year.
