• Transaction / Assets
    43,400m2 Block In 22@ District
  • Seller
  • Buyer
    Meridia Capital
  • € MM

Meridia Capital Acquires 43,400m2 Block In 22@ District

14 July 2017 – Inmodiario

Meridia Capital Partners has announced the acquisition of almost a whole block measuring 43,400 m2 in the technological 22@ district of Barcelona. This prime enclave is located just a stone’s throw from the sea and is one of the main nuclei for the development of offices and residential areas in Barcelona. Located at the northern edge of Villa Olímpica, in recent times, many renowned companies have established their headquarters in this area of Poblenou. The plot is demarcated by Calles Ávila, Doctor Trueta, Badajoz and Avenida Icaria.

Meridia Capital will carry out a comprehensive transformation of the block with the aim of converting it into a cutting-edge mixed-use complex, where both offices and residential buildings will be erected. Around 32,300 m2 of the land will be allocated to the development of high-quality offices and the remainder (11,200 m2) will be set aside for residential use. It is one of the most ambitious projects of those currently being undertaken in the 22@ district.

This site is home to the former La Siberia ice factory and the Industrias Deslite building, both of which form part of the special protection plan set out by Barcelona’s Historical-Artistic Architectural Heritage. Meridia Capital will preserve both the façade as well as the structure of both historical buildings.

The acquisition of this block constitutes the fourth operation completed through Meridia III, the latest real estate investment vehicle launched by the fund manager Meridia Capital. Meridia III has an investment capacity of €500 million. Its predecessor, Meridia II, which had an investment capacity of €400 million, has been disbursed in its entirety.

Juan Barba, Partner and Managing Director of Real Estate at Meridia Capital, said: “This new operation represents a major opportunity for the development of a mixed-use project (residential/office) in an area that is undergoing a complete transformation and where demand is growing”.

Javier Faus, Founding Partner and CEO at Meridia Capital, added: “We are really excited to be contributing to the development of the “Front Marítim” and of the 22@ district, as the real area of innovation in Barcelona. This is one of the most ambitious operations that will be undertaken over the next few years. We are very optimistic about the future of our city and we hope that operations such as the one announced today will help to continue to attract the best companies and talent here”.

Garrigues and Deloitte advised Meridia Capital on this operation.

Original story: Inmodiario

Translation: Carmel Drake