Montea Montea invests in two new prime locations in NL

Montea invests EUR 29.7m in two prime locations in the Netherlands. In Diemen, Montea has acquired a highly coveted plot comprising c. 28k sqm, which will be let on a long-term lease to the current tenant. In Oss, Montea will develop a distribution center for Vos Logistics. This will add to the company's two existing properties in the same area. Montea targets to achieve an average initial yield of 6.9% across the two investments. Montea recently updated its Track27 program and estimated that 35% of the total investment target of 1.2bn has been identified. Despite the macro-economic headwinds that are mostly driven by fear rather than facts, Montea continues to execute on its plan without compromising on the targeted yields. The announced yield of 6.9% largely outperforms recent deals in NL (Tritax Eurobox – Segro). The price/NTA now stands around 18% discount.