Montea : and Weerts partner to develop Belgium's largest single-tenant facility

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[{"type":"text","content":"Creation of strategic partnership with Weerts GroupA family-owned group headquartered in Liège, Belgium with activities in four sectors:\n Real Estate, Logistics, Motorsport and Renewable EnergyReinforcing Montea's growth storyWith commitment to achieving the\n € 300m investment volume\n in 2025 through four pillars\n 1\n Own developments\n 2\n Acquisitions\n 3\n Partnerships\n 4\n Green investments3\n Transaction summary\n 40:60 joint venture between\n Montea and Weerts Group\n with Montea becoming a long-term partner in the largest single tenant development ever realised in Belgium\n Development of a 215,000 m2\n European distribution centre for Skechers,\n an American multinational footwear and\n apparel company\n Development will consist\n of five units\n The site is located right next to Liège Airport and along the E42 motorway, offering ideal distribution opportunities\n Financial transaction parameters\n 20-year triple net lease with Skechers, with over 70% of leases by GLA expected to commence at the end of 2027\n 50-year land concession signed between the joint venture and Liège Airport for a 370,000 m2 plot, with an extension option for another 49 years\n Montea's return stands at above 6% within the partnership model, with a total maximum exposure of ca. € 140m at lease start date\n (expected end 2027)\n ConclusionMontea establishes a new strategic partnership with Weerts Group for a flagship development in the Belgian logistics real estate market\n The project corresponds with Montea's development criteria\n (i.e. permit and pre-let secured, sustainable requirements with BREEAM\n Expected returns are fully aligned with Montea's required returns for investments\n Excellent certification)","length":3848,"tagName":"div"}]

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