US Fund Cain to Acquire Portfolio of Second Tier Offices from Merlin Properties

15 August 2019

Cain, a real estate investment fund, is in talks with Merlin Properties to acquire a portfolio of second-tier office assets for more than 200 million euros. The US firm is currently concluding the process of arranging financing to acquire the portfolio. Cain is investing in the assets in conjunction with the Freo Group.

The portfolio, known as Project Juno, is made up of Merlin’s second-tier office holdings, which do not currently fit into the Spanish socimi’s investment strategy. Such offices, however, are also highly in demand at the moment.

The portfolio’s assets include the Miniparc complex, in Soto de la Moraleja (Madrid), the headquarters of Informática El Corte Inglés, in Mirasierra to the north of Madrid and the Európolis complex, in Las Rozas.

Original Story: El Confidencial – Ruth Ugalde

Adaptation/Translation: Richard D. K. Turner

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