Meridia III Buys a Logistics Platform in Madrid for €15M+

5 December 2018 – Eje Prime

Meridia III has added another asset to its logistics portfolio. Meridia Capital’s Socimi has acquired an industrial platform in Alcalá de Henares (Madrid) for €15.25 million, according to a statement filed by the company with the Alternative Investment Market (MAB).

The warehouse has a surface area of 26,400 m2 and is located on the Corredor de Henares axis, the place that accounts for the largest volume of logistics stock in the whole of Spain.

The Socimi, which debuted on the stock market at the end of 2017, has financed the operation using a €10.3 million loan with a term of seven years, according to a statement filed by the company with the stock market regulator. Moreover, with this acquisition, the logistics portfolio of Meridia III now spans almost 100,000 m2.

In recent months, the company has also been undertaking some significant investments in the Spanish office market, such as its purchase in March of a building in the financial district of Madrid for €26.5 million. That property, which has a surface area of 7,500 m2, is located at number 4 Calle Juan Hurtado de Mendoza, close to Paseo de la Castellana. Moreover, in Barcelona, the Catalan manager leased its new building in the 22@ district to the international consultancy firm Everis.

On the other hand, according to the company’s latest accounts, Meridia III recorded a loss of €522,124 to June, which means that said indicator had decreased by 76% with respect to the first half of 2017. In addition, the company recorded revenues of €8 million during the first six months of the year, whereby doubling its turnover in comparison with the same period a year earlier.

Moreover, the company completed a €14.2 million capital increase at the end of November. The company’s new shares are going to be issued for a nominal value of €13 million plus an issue premium of €1.2 million.

Original story: Eje Prime 

Translation: Carmel Drake

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