Montea acquires €344M of logistics assets from WLP, paid in shares with a 28% premium
Montea has announced the acquisition from Weerts Logistics Parks (WLP) of a portfolio of leased logistics assets in Italy and Germany, for €344 million. The transaction makes Italy the real estate investment trust's fifth main market.
The structure is based on the issue of new shares at a price 28% above the latest closing price. Upon completion of the transaction, WLP is expected to become a 10% shareholder of Montea. The seller of the assets thus enters the capital of the acquirer.
A €344M portfolio leased on average over 16 years
The portfolio acquired from WLP consists of assets already generating rental income, spread across Italy and Germany. According to the company, the weighted average unexpired lease term reaches 16 years, for an average net yield of 5.7%.
These two indicators describe the nature of the income contributed: rents received immediately, backed by long-term lease commitments. Montea presents Italy as one of the largest logistics markets in Europe, and the transaction gives it immediately significant scale in the country.
The German component extends a movement already underway: on October 12, 2026, the real estate company had announced two appointments to its management in Germany. Montea has also increased its stake in the Montea-WLP joint venture to 49%, whose development project fully leased to Skechers is being extended to 230,000 m².
New shares issued at a 28% premium to the share price
The financing method is the central point of the transaction. The new shares are issued at a 28% premium to the latest closing price and at a price above the latest EPRA NTA, the net asset value indicator of listed real estate companies.
Mechanically, an issue carried out above this net asset value per share does not dilute it for existing shareholders. The company also presents the structure as neutral for its level of indebtedness, meaning that the acquisition should not increase its debt ratio.
The new shares only carry entitlement to the dividend from the 2027 financial year onward. For reference, at the annual results published on February 11, 2026, the dividend proposed for the 2025 financial year amounted to €3.93 per share. With 10% of the capital, WLP becomes a reference shareholder of Montea.
An exclusive partnership in Italy until 2030
Beyond the acquired portfolio, Montea has broadened its relationship with WLP through an exclusive development partnership in Italy, concluded until 2030. This partnership is expected to support the real estate company's stated ambition to at least double the size of its Italian portfolio.
The transaction, which involves the issue of new shares, led to the convening of an extraordinary general meeting of shareholders on December 3, 2026.
The most structuring element of the announcement remains the scale of entry into this new market: €344 million of leased assets with an average lease term of 16 years and an average net yield of 5.7%, financed by shares issued at a 28% premium to the latest price.
