13 December 2017 – Eje Prime
The Socimi fever is never ending in the real estate sector. In fact, it is growing. The latest company to bet on the Alternative Investment Market (MAB) is Meridia Capital Partners, a Barcelona-based fund led by the veteran businessman Javier Faus, which has announced it is going to debut its Socimi on the stock market, most likely at the beginning of 2018. This incorporation will come after today’s debut on the stock market of the logistics firm P3 Logistics Parks, and after Student Properties, which will soon become the first listed real estate investment company specialising in student halls.
Meridia III, which is what the Socimi is called, owns assets worth more than €100 million, according to Cinco Días. The future listed company owns a diversified portfolio with investments in every sector, from offices and logistics to residential, retail and hotels, but focused, for the time being, in Spain’s two largest cities, Madrid and Barcelona.
Constituted last year, Meridia III was created as the third investment vehicle of the fund, created by Faus in 2001. Its most recent acquisitions include the Barnasud shopping centre, for which it paid €35 million to Unibail-Rodamco.
Moreover, the company has carried out seven capital increases in the last year and a half, amounting to €50 million in total, with the aim of financing its future plans.
In total, Meridia III has an investment capacity of €500 million, of which it has already spent more than 50%.
Original story: Eje Prime
Translation: Carmel Drake