In addition, the JV has already identified a pipeline of 11 development opportunities, totaling in excess of 300,000 sq m.
Charles Baigler, Fund Manager, CBRE Global Investors’ Europe Value Partners fund series said: “This joint venture perfectly fits with our European value add strategy of creating core assets in supply constrained markets. The logistics sector is a key focus for the fund series and we are very pleased to be in partnership with Montepino, who are a best in class logistics developer with a proven track record of sourcing and delivering high quality assets in prime locations.”
Antonio Roncero, Head of Transactions Iberia, CBRE Global Investors added: “This is a significant logistics deal for the Spanish market. We have seen the market evolve significantly over the past years with increasing demand for high quality space since 2015 and prospects remain strong.”
Juan Jose Vera, Vice President of operations, Montepino, stated that the creation of this joint venture with CBRE Global Investors facilitates the Spanish firm "to maintain its leadership in the Spanish logistic market ", as well as "a sufficient contribution of economic resources that allow us to grow and develop the significant projects we have planned for the next few years."
The Vice President said that the logistic sector is currently experiencing a real surge in tenant demand, and that is why transactions like this one are necessary “to launch important logistic projects for large national and international firms." Juan Jose highlighted that these projects "represent a great complexity as far as technique and design are concerned".
Finally, Juan Jose noted that 2017 has been "a great year" for Montepino, having achieved over "40% of market share" in delivering logistic development solutions, in central Spain, data which shows the strong momentum the firm is currently undergoing.
CBRE advised CBRE Global Investors on the transaction.
– ENDS –
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.9 billion in assets under management* on a combined pro forma basis, as of June 30, 2017, to reflect the completion of the acquisition of a majority stake in Caledon Capital Management Inc.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc.
(NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
Montepino is the leading logistic developer in Spain in delivering turnkey projects. The Spanish firm develops national and international solutions for the main providers of logistics services operating in Spanish territory, as well as for some of the leading companies in the tertiary and industrial sector. Its platforms and buildings have the highest international certificates and recognitions that guarantee their excellent sustainable constructions, as well as their energy efficiency.
Montepino’s highly qualified team works continuously to offer its customers innovative, unique and avant-garde solutions. The aim of the company is to continue to be a leading company in the Spanish logistic market, currently in a peak period and with strong growth prospects.
For more information about the company, please visit www.montepino.net.
For further information, please contact with:
Juan José Vera | Montepino´s Vice President for Operations
Juan Vera | Montepino´s President
Alejandro Bolea |Montepino´s press | Energy Comunicación
Inversiones Montepino Madrid
Paseo de la Castellana, 18, 7ª
Inversiones Montepino Zaragoza
Paseo de la Mina, 1, Principal