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