Bankinter has been chosen as the winner of the auction for the Montepino logistics macro-portfolio. According to sources familiar with the real estate deal of the year, the bank’s bid has beaten that of the US fund Brookfield, which was the runner-up.
Bankinter’s offer is close to 1.2 billion euros, which would boost investment in the logistics segment to a record for the current financial year. Now that Bankinter has been announced as the winner, the deal is expected to be formally closed in the next few days, industry sources confirmed to Brainsre.news.
Brookfield and Bankinter were the two final bidders in the race to acquire Montepino’s portfolio after beating out around ten other investors, including Singapore’s sovereign wealth fund, Nuveen, DWS and AXA, among others.
Bankinter intends to create a Socimi with these assets and list it on the stock exchange, in addition to refinancing the debt once the construction of the pending warehouses has been completed.
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