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Meridia Buys ‘Miramadrid’ Shopping Centre For €12.5M

17 July 2015 – Expansión

The real estate fund Meridia Capital, which is controlled by the former Vice-President of Barcelona FCB, Javier Faus, and the former director of Sareb, Juan Barba, has closed the purchase of the Miramadrid shopping centre, located in the town of Paracuellos del Jarama (Madrid).

Meridia has paid the developer Hercesa (now called HI Real Estate) €12.5 million for the property, which has a surface area of 7,148 m2; that represents a yield of 8%. (…).

The shopping centre, which opened in August 2009, has an occupancy rate of 97% and its tenants include Mercadona, Burger King and Telepizza. Meridia has been advised on the transaction by Knight Frank, Dokei and Roca Junyent, whilst The Carlton Group has advised Hercesa.

With this transaction, the Spanish fund continues its high level of investment activity, which has resulted in the purchase of real estate assets worth more than €500 million in the last 10 months, including the purchase of 11 GE offices for €100 million.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake