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 m2
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 m2 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)