Tuesday, November 24, 2020
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CBRE GI and Montepino to Invest €600 Million to Expand Their Logistics Portfolio in Spain

Over the next three years, the joint venture between the fund manager and the Spanish real estate company plans to invest 600 million euros in its portfolio, which is currently valued at 1 billion euros.

Carmel Drake

The fund manager CBRE Global Investors and the Aragonese group Montepino are working together to expand their logistics joint venture, which currently comprises assets worth 1 billion euros, well above the 300 million euros initially planned.

The Spanish company, controlled by the Vera family and based in Zaragoza, closed an alliance in 2017 with the fund manager CBRE Global Investors to invest in logistics assets. Since then, they have created a company with 22 assets that generate an annual income of around 39 million euros. That figure that will increase once the portfolio grows to reach a volume of 1,600 million euros over the next three years, as Juan José Vera, the firm’s CEO explained to Expansión.

Read the full article in Spanish.

SourceBrainsre.news
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