Amundi Acquires Co-Working Project from Conren Tramway for €55 Million

25 July 2019 – Richard D. K. Turner

Amundi, a major French asset manager, acquired an office building under development at Calle Sancho de Ávila, 65, in Barcelona’s @22. The firm paid Conren Tramway 56 million euros for the building, which is still under construction.  The building, however, has already been fully leased by Wojo, a French co-working firm owned by Accor.

The 7-floor building will have 8,300 square meters of surface area, parking facilities, storerooms, changing rooms and a rooftop terrace. Conren Tramway recently signed a leasing agreement whereby the Wojo will take over the property at a rate of  22.3 euros per square meter per month

Amundi’s operations in Spain began last year with its acquisition of the Portico building, in Madrid’s Campo de las Naciones, for approximately 130 million euros.

Original Story: Expansión – Marisa Anglés

 

Investors Seek Returns in Alternative Investments Such as Data Centres and Parking Facilities

25 July 2019 – Richard D. K. Turner

Investors are increasingly looking to alternative investments to boost their returns, as segments of the real estate market near maturity. Investments in the sector, which includes co-working and co-living, student residences, data centres and parking facilities, among others, grew by 8.4% in 2018.

Large firms have been looking at new uses for existing assets, such as using parking facilities as small-scale, last-mile logistics platforms in large city centres. Data centres have also been a focus of investment activity. Forecasters predict that the need for information storage in Spain is to increase significantly in the coming years.

Investors have also taken a closer look at investments in medical centres and geriatric residences, boosted by ageing populations around the globe. In Spain, Azora recently partnered with Banca March and Indosuez Wealth Management to create a healthcare-focused socimi with an investment capacity of 250 million euros.

Original Story: Eje Prime – M. C. P.

Meridia Capital Acquires Logistics Platform in Guadalajara for €10M

8 March 2018 – Eje Prime

Meridia Capital is fattening up its asset portfolio. Today, the company announced the purchase of a logistics platform spanning 27,500 m2 in Alovera (Guadalajara) for €10 million. The asset has been acquired through the real estate vehicle Meridia III.

Constructed in 2006, the warehouse is located on the Corredor de Henares axis, an industrial area where companies such as Volvo, Eroski and Mahou are situated. The first warehouse that Meridia III acquired in April 2016 is also located there.

Following the signing of this agreement, Meridia Capital’s logistics portfolio will span a surface area of 112,000 m2 in total, of which 73,000 m2 has been purchased through Meridia III.

Meridia Capital is an independent manager that manages assets worth almost €1 billion (including debt). In recent years, it has established itself as one of the main regulated alternative investment managers in Spain.

Original story: Eje Prime

Translation: Carmel Drake