Meridia Capital Buys 4 RE Assets For €20M

12 January 2017 – Inmodiario

Yesterday, Meridia Capital Partners announced the purchase of a portfolio of four assets with a combined surface area of 24,063 m2 – comprising one logistics platform and three retail units – located primarily in Madrid. All of the properties have been acquired by the fund Meridia II for a price of approximately €20 million.

The logistics platform has a gross leasable area (GLA) of 16,385 m2 and is located in one of Madrid’s main logistics areas (CLA, Getafe), which is home to several high profile logistics centres and companies (for example DHL, Decathlon, Flex, Conforama).

The three retail units have a combined GLA of 7,678 m2 and are leased to well known food retailers such as Mercadona – the market leader in Spain – and Día – which is the third largest player in its sector.

Launched in 2014, Meridia II is a €150 million real estate fund specialising in the logistics, retail and office sectors in Spain. Following this latest deal, the fund has now invested almost all (94%) of its available capital.

Juan Barba, Partner and Managing Director of Real Estate at Meridia Capital, said “This transaction is another example of the good opportunities for adding value that are currently available in the Spanish market. The presence of high profile tenants in the area of the recently acquired platform is proof of its excellent location. This deal strengthens our exposure to the Spanish retail/logistics sectors and complements our previous acquisitions, including a warehouse in Valencia, as well as the Consum and Aecus portfolios. Through this transaction, we incorporate the seventh Mercadona unit into our portfolio, whereby consolidating our relationship with the leading food retailer in Spain”.

In this deal, Meridia Capital was advised by Aguirre Newman and Cuatrecasas, whilst the vendor was advised by CBRE:

Original story: Inmodiario

Translation: Carmel Drake

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