Bankinter Investment and Valfondo successfully closed the capital increase of the Montepino logistics portfolio for €250 million
The Investment Banking area, called Bankinter Investment, and Valfondo Management, manager of Montepino's logistics portfolio, are finalising a process aimed at continuing to promote the growth strategy introduced for the Montepino portfolio.
Throughout 2022, an investment of more than €300 million is planned to promote more than 350,000 m2 of GLA.
This process means Montepino's capital can be increased (reaching approximately €900 million) and more than 22 million new shares can be issued, which make up all the new shares offered in this operation.
The new shares have been subscribed at a unit value of €10.95, which equates to a revaluation of 9.5% compared to the value of the shares at the time the portfolio was acquired in May 2021.
Valfondo, since signing an agreement with Bankinter Investment for the acquisition of Montepino's logistics portfolio in May 2021, has managed - through Montepino - investments worth more than €100 million and has managed to make Montepino's asset portfolio appreciate by more than 6%.
Bankinter Investment and Valfondo Investment Management, manager of Montepino's logistics portfolio, have successfully completed the capital increase process for Montepino's logistics portfolio for an amount of €250 million.
After the end of the successive subscription periods, all the shares offered were fully subscribed, i.e., a total of 22,761,540 shares, after an oversubscription of 150% was reached in the third and last round (discretionary allocation period). By doing so, Montepino's logistics portfolio has become the leading specialised portfolio in Spain. In the next few days, the public deed related to the capital increase will be granted and will then be registered in the Mercantile Registry.
Valfondo, since signing an agreement with Bankinter Investment in May 2021 for the acquisition of the Montepino logistics portfolio, has managed investments worth more than €100 million and has exceeded all growth expectations with more than 500,000 m2 of GLA and with 30 assets that currently make up Montepino's logistics portfolio. This asset portfolio has appreciated in recent months by more than 6%.
This capital increase will be used to continue promoting the growth strategy established for Montepino's logistics portfolio. In fact, this year, Valfondo plans to manage, through Montepino, an investment of more than €300 million to secure the purchase of land and promote more than 350,000 m2 of GLA. This will allow new logistics platforms to be developed, which will be located in Castellbisbal (Barcelona), Illescas (Toledo), Guadalajara, Marchamalo (Guadalajara), Alicante, Zaragoza and Malaga.
About Bankinter Investment:
Bankinter Investment is Bankinter's Investment Banking area which, in the last five years, has successfully launched 16 alternative investment vehicles, with committed capital of €3.450 billion, making it a benchmark for alternative investment in the Spanish market. Bankinter Investment has a portfolio of assets that represent a committed investment of nearly €6.000 billion, including project financing. Asset management in all vehicles has followed the model of partnering with an expert company in each investment segment of each fund or REIT, such as renewable energies, the hotel sector, student halls of residence, infrastructures, commercial real estate, private equity and venture capital.
Valfondo Investment Management, Integral Manager of Montepino (currently Bankinter Logística), has become one of the largest managers specialised in Real Estate-Logistics in Spain. With a clear focus on providing integrated real estate solutions that range from design, promotion and subsequent management, for the main operators of national and international logistics services, as well as for some of the most cutting-edge companies in the tertiary and industrial sector.
In recent years, Valfondo Investment Management has been able to absorb 50% of the real estate demand in the logistics sector in the central area of the Iberian Peninsula and develop one million square metres of logistics space through Montepino (currently Bankinter Logística), thus becoming the leading firm in the development of 'turnkey projects' in Spain.
One of the values that makes Valfondo Investment Management stand out is its integrated “in-house” team of more than 50 people, which allows it to place highly technologically sophisticated logistics platforms on the market in very tight time lines, of as little as nine months. And this is all with a clear commitment and responsibility with regard to the careful consideration of ESG policies.
With experience managing capital for institutional investors such as TRS or CBRE GI since 2017, on 14 May, Valfondo Investment Management and Bankinter Investment jointly purchased Montepino's logistics portfolio, along with other investors (Bankinter Private Banking customers and institutional customers), to reinforce and promote the growth plan of Montepino (Bankinter Logística) and thus become strategic partners.