Meridia Capital acquires office portfolio in Barcelona for €66 million

viladecans

Meridia Capital Partners  announced that it has acquired for €66 Million an office portfolio totalling 40,000 sqm and 560 parking spaces, mostly in Barcelona.

All assets have been acquired through its latest real estate vehicle Meridia III.The main assets acquired include, among others:

-Two buildings located within grade A Viladecans Business Park (Barcelona).The properties are in excellent  conditions and have easy access to the city centre and the airport.
-The so called Alta 1 building in Esplugues (Barcelona), located next to Nestlé’s Spanish headquarters, acquired by  Meridia earlier this year.
-Other office assets mainly in Barcelona.

With the current acquisitions the fund closes its second and third deals. Meridia III is a value-added real estate vehicle with a hard cap of €250m of equity and an investment capacity of €600m. Supported by some of the world’s most highly regarded institutional
investors, the vehicle targets Spain, especially its two main markets: Madrid and Barcelona.

Juan Barba, Partner, Managing Director for Real Estate at Meridia Capital, said “We are delighted to be adding these buildings to our office portfolio in Barcelona. In Viladecans we have acquired two assets in a very high quality business park. We will leverage on our experience and asset management skills to further improve occupancy. In Esplugues, we have acquired an attractive asset in a strategic location – next to Nestlé’s Spanish headquarters (also owned by Meridia)-, and we plan to boost the area while we manage it as an office cluster.

After our latest acquisition, which mainly focused on the Madrid market, these acquisitions rebalance our office exposure between Madrid and Barcelona. With Meridia II we already established ourselves as a competitive force in the Spanish office market.
With Meridia III we continue expanding our presence in this segment, having acquired several office assets in just a few months.”

Source: Meridia Capital

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