Montea is expanding its landbank with the purchase of two redevelopment projects in Mannheim and Leverkusen.
- Acquisition of an 83,000 m² grey field site at a strategic location in Mannheim
- Sale & lease back of a logistics building with redevelopment potential in Leverkusen
The total investment to date approximately amounts to €43 million. Through an initial rent of €1.8 million Montea realises an initial yield of 4.2% on these sites.
These transactions are in line with Montea’s growth plan Track’24 by which its portfolio will grow to €2.2 billion by the end of 2024.