Meridia Takes €83.5-Million Loan to Build Project in Barcelona’s 22@

21 November 2019 – A socimi controlled by Meridia has arranged an up to €83.5-million syndicated loan with CaixaBank and Santander to build the future headquarters of Everis in Barcelona’s 22@ district.

The firm’s real estate vehicle, Meridia III, requested the loan, which will be guaranteed by the plot of land located at Avenida Nova Icària 213, as well any future construction on the site. The loan will last until seven years after the end of construction.

Original Story: Expansión – Marisa Anglés

Adaptation/Translation: Richard D. K. Turner

Meridia to Sell a Major Portfolio of Office Buildings in Madrid and Barcelona

31 October 2019 – Meridia is selling the largest portfolio of office buildings currently on the market. The portfolio, known as Project Square, is made up of a dozen real estate assets in Madrid and Barcelona. The sale of assets from the socimi Meridia III could be worth up to 200 million euros.

The assets in Madrid include the Omega Building in Alcobendas; three buildings on Calle Julián Camarillo, and the Virgilio II building in Pozuelo de Alarcón.

In Barcelona, ​​the portfolio consists of the Citypark in Cornellá; two office buildings in Viladecans; the Diagonal Business Park in Esplugues de Llobregat, and another asset at Paseo de San Joan 75.

In total, the portfolio has around 80,000 square meters of surface area, with approximately 1,200 parking spaces.

Original Story: Cinco Días – Alfonso Simón Ruiz

Adaptation/Translation: Richard D. K. Turner

Meridia Capital Acquires 25,000 m2 of Buildable Land in Barcelona’s 22@ District for €25.8M

17 December 2018 – Press Release

Meridia Capital has announced today the acquisition of several plots of land with a total buildable area of 24,605 m2 in Barcelona´s 22@ district from Dospuntos Asset Management.

This prime complex, comprising five adjacent plots, is delimited by Pere IV and Fluvià streets, situated in the northern part of Barcelona’s 22@ district, one of the areas with the highest potential within the city. The land acquired is adjacent to “La Escocesa”, a former industrial complex now owned by Barcelona City Council, which will be refurbished to host social housing and public services. The Barcelona City Council is focusing on developing the area by remodelling and upgrading the nearby streets with different initiatives. One of them is Ca l’Alier, a former factory that will soon start operating as an urban innovation centre and that will host the recently launched Urban Mobility Lab.

Meridia Capital intends to carry out a transformation plan in order to develop the land for tertiary use and fully integrate it within the local community. The project will become one of the major developments undertaken so far within the 22@ northern district. After this transaction, Meridia Capital owns a total buildable area of over 60,000 sqm in 22@ the district, consolidating its position as a leading investor in the growth of one of the fastest expanding areas in Barcelona.

With this acquisition, Meridia III – launched in 2016 – almost reaches full deployment. Its predecessor, Meridia II, is fully deployed and is currently in exit mode (…).

About Meridia Capital

Meridia Capital Partners SGEIC, S.A. is an independent investment firm. Over the past few years, it has become one of the main regulated alternative investment fund managers in Spain.

Original story: Press Release

Edited by: Carmel Drake

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

Meridia III Doubled its Revenues and Cut its Losses by 76% in H1

24 October 2018 – Eje Prime

Meridia III is reducing its losses. The Socimi owned by Meridia Capital recorded losses of €522,124 to June, which represented a reduction of 76% with respect to the first half of 2017, according to reports from the company to the Alternative Investment Market (MAB).

The company recorded revenues of €8 million during the first six months of the year, doubling its turnover in comparison with the same period last year. The firm’s EBITDA amounted to €3.3 million, reversing the negative figure of €964,673 recorded between January and June 2017.

In recent months, Meridia III has continued with its growth plans and has completed two high-profile divestments. The first was the sale to Barings of five office buildings that it owned in Avalon, as revealed by Eje Prime. That deal was followed by another at the start of October when it sold the property that houses Nestlé’s headquarters in Barcelona to Igis for €87 million.

Listed on the MAB since the end of 2017, Meridia Capital’s Socimi has also made some significant investments in the Spanish office market such as the purchase in March of a building in the financial district of Madrid for €26.5 million. The building, measuring 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 has leased its new building in the 22@ district to the international consultancy firm Everis.

At the beginning of October, Meridia Capital completed a capital increase of €13 million in Meridia III. The increase in funds will give the Socimi “greater guarantees to face and develop future projects and investments”, according to explanations provided by the manager in a document published on its website.

Original story: Eje Prime

Translation: Carmel Drake

Meridia Capital Acquires an Office Building in Madrid for €26.5M

29 May 2018 – Eje Prime

Meridia Capital is entering the prime office area of Madrid. The Barcelona-based investment fund has purchased a building with a surface area of 7,500 m2 for €26.5 million, as revealed by Eje Prime. The firm, founded and led by the businessman Javier Faus (pictured below) has sealed the operation through its investment vehicle Meridia III.

The property is located close to Paseo de la Castellana, at number 4 Calle Juan Hurtado de Mendoza. The office was constructed in 1967 and underwent a renovation in 2005.

Following its purchase, Meridia plans to refurbish and improve the property with the renovation of its façade and technical facilities. In addition to offices, the property is also home to 54 parking spaces.

Original story: Eje Prime

Translation: Carmel Drake

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

Meridia Capital Will Debut its Socimi on the MAB in 2018

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

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

Meridia III Makes Its First Acquisition In Madrid & Barcelona

3 May 2016 – Press Release

Meridia Capital’s new real estate vehicle, Meridia III, makes its first acquisition in Madrid and Barcelona.

On Friday, Meridia Capital Partners, SGEIC, S.A., (“Meridia Capital”) announced the first deal of its recently launched real estate vehicle, Meridia III. The fund has acquired a portfolio of 9 assets in the metropolitan areas of Madrid and Barcelona. The portfolio totalling c.42,000 sqm mainly includes office buildings, as well as a logistics warehouse and 581 parking spaces. The properties are located in established and integrated business areas of Spain’s two main markets. Meridia III acquired this portfolio from the Spanish real estate fund Segurfondo Inversión (managed by Inverseguros).

Six assets, which account for 87% of the portfolio in terms of square metres, are located in Madrid, whereas the remaining 13% (totalling 3 buildings), are situated in Barcelona. The properties have attracted prominent tenants such as BBVA and Telefonica.

Juan Barba, Partner, Managing Director Real Estate at Meridia Capital, said “This is an excellent opportunity to acquire a diversified portfolio with high value creation potential. The country has been showing clear signs of recovery in the office segment, triggered by an increase in occupancy levels as well as gradual rental growth. This transaction brings new office assets to those acquired through Meridia II, thus reinforcing our local presence in this sector.”

Meridia Capital’s Founding Partner & CEO, Javier Faus, stated “The launch of Meridia III and this first deal demonstrate that we continue to be very positive about the prospects that the Spanish real estate sector offers. Through the new vehicle we aim to leverage on our track record and extensive experience in this market, which we believe will allow us to continue achieving attractive returns for our investors.”

Meridia Capital was advised on this deal by Aguirre Newman, Garrigues and Dokei.

Original story: Press Release

Edited by: Carmel Drake