Meridia Capital’s recently launched real estate vehicle, Meridia III, has acquired a portfolio of nine assets in the metropolitan areas of Madrid and Barcelona. The portfolio totalling approximately 42,000m² includes mainly office buildings but also a logistics warehouse, as well as 581 parking spaces. The properties are located throughout consolidated and integrated business areas in Spain’s two main markets. Meridia III acquired the portfolio from the Spanish real estate fund Segurfondo Inversión (managed by Inverseguros).
Six assets, which account for 87% of the portfolio in terms of square metres, are located in Madrid, whereas the remaining 13% (totalling three buildings), are situated in Barcelona. The properties have attracted prominent tenants such as BBVA and Telefonica.
Juan Barba, partner, managing director real estate at Meridia Capital, said “This is an excellent opportunity to acquire a diversified portfolio with high value creation potential. The country has been showing clear signs of recovery in the office segment, triggered by an increase in occupancy levels as well as gradual rental growth. This transaction brings new office assets to those acquired through Meridia II, thus reinforcing our local presence in this sector. “
Meridia Capital’s pounding partner & CEO, Javier Faus, stated “The launch of Meridia III and this first deal demonstrate that we continue to be very positive about the prospects that the Spanish real estate sector offers. Through the new vehicle we aim to leverage on our track record and extensive experience in this market, which we believe will allow us to continue achieving attractive returns for our investors.”
Meridia Capital was advised on the deal by Aguirre Newman, Garrigues and Dokei.
