Meridia Capital announced today the acquisition of a 24,063m² portfolio of four assets located primarily in Madrid. The portfolio includes a logistics platform and three retail units. All the assets have been acquired through Meridia II for approximately €20m.
The logistics platform has a total gross leasable area (GLA) of 16,385m² and is located in one of the main logistics areas in Madrid (CLA, Getafe), which concentrates recognized logistics and end-user companies (e.g. DHL, Decathlon, Flex, Conforama). The three retail units have a total GLA of 7,678m² and are leased to important food retailers such as Mercadona - the leading Spanish food retailer - or Dia - ranked third.
Launched in 2014, Meridia II is a €150m real estate fund (€400m including debt), mainly focused on Spanish logistics, retail and office sectors. After this last transaction the vehicle is almost fully invested (94%).
Juan Barba, Partner, Managing Director for Real Estate at Meridia Capital, said “This deal is yet another example of the good value-add opportunities that the Spanish market offers. The presence of many prominent tenants in the area of our recently acquired logistics platform proves the relevance of this prime location. This deal further strengthens our retail/logistics exposure in Spain, complementing our previous acquisitions of a warehouse in Valencia plus the Consum and Aecus retail portfolios. This transaction adds the seventh Mercadona unit to our portfolio, thus consolidating our relationship with the top food retailer in Spain.”
Meridia Capital was advised on this deal by Aguirre Newman and Cuatrecasas while the seller was advised by CBRE.
