Merlin to Build a Logistics Warehouse for DSV in Zaragoza

17 January 2020 – La Vanguardia

Merlin Properties has agreed to build a warehouse in Zaragoza for the Danish transport and logistics company DSV. The Socimi led by Ismael Clemente will lease the 12,000 m2 property to DSV for ten years.

Original story: La Vanguardia 

Translation/Summary: Carmel Drake

Merlin to Make its Portuguese Stock Market Debut on 15 January

9 January 2020 – Europa Press

Merlin Properties, the Socimi led by Ismael Clemente (pictured below), is going to make its debut on the Lisbon stock market on Wednesday 15 January.

Merlin will thus fulfil its objective, announced in 2019, of trading its shares in Portugal (as well as on the Ibex in Madrid), given that it is a strategic market for the entity.

Specifically, the Socimi already owns 9 offices, 2 shopping centres and 1 logistics warehouse in the neighbouring country, assets which together account for 8% of its total portfolio. They span a combined surface area of 113,000 m2 and generating €44 million in annual revenues.

Original story: Europa Press 

Translation/Summary: Carmel Drake

Merlin Properties to Begin Trading This Month on Portugal’s PSI-20

3 January 2020 The Spanish socimi Merlin Properties will debut on the Portuguese Stock Exchange this month. The firm had initially planned to begin trading before the end of last year.

Due to its size, Merlin Properties, which has traded on the IBEX 35 since 2015, will likely debut on Portugal’s PSI-20, which is run by Euronext.

La socimi española Merlin Properties debutará en la Bolsa de Valores de Portugal este mes. Debido a su tamaño, la firma, que cotiza en el IBEX 35 desde 2015, probablemente debutará en el PSI-20 de Portugal, dirigido por Euronext.

Original Story: Expansión

Translation/Summary: Richard D. Turner

Silicius and Merlin in Talks on Transfer of Three Shopping Centres

2 December 2019 – The socimi Silicius is close to finalising negotiations to take on three shopping centres worth €175 million from Merlin Properties. The agreement, which would involve a capital increase, to take the socimi’s total portfolio from €470 million to approximately €650 million, nearer to its goal of reaching one billion euros in assets in the first quarter of 2020.

Silicius only has debts of €200 million, and the firm is currently finalising several other possible acquisitions worth €100 million in Spain.

Original Story: El Confidencial – Ruth Ugalde

Adaptation/Translation: Richard D. K. Turner

Merlin Properties Sells Portfolio of Office Buildings for €225 Million

2 December 2019 – Merlin Properties announced that it had finalised the sale of a portfolio of 26 office buildings in Madrid and Barcelona to Cain International and the European real estate investment platform Freo Group for 225 million euros. The assets have a total surface area of ​​133,218 square meters, generating a gross rental income of about 11.8 million euros.

Twenty-one of the buildings in the portfolio are located in Madrid, while the rest are in Barcelona. The business parks include the two Muntadas, next to the El Prat airport, the Citypark in Cornellá, the Minipark complexes in Alcobendas and El Plantío in Madrid.

Original Story: Bolsamanía / Europa Press

Adaptation/Translation: Richard D. K. Turner

Merlin Properties Prepares New Offer for Operation Chamartín

28 November 2019 – Merlin Properties has finalised an agreement with BBVA and the San José construction group to give it the right of first refusal for a stake in the North Castellana District (DCN), where the San José holds a 10% stake and the bank 75.54%. The socimi, however, intends to make an offer right away.

Merlin Properties currently has a 14.46% stake in the Operation Chamartín development and is looking for greater control. Merlin had already offered to trade control of 700 offices that it currently rents to the banking group for the operating rights to Operation Chamartín. The bank, however, is seen to be more interested in taking a stake in Merlin Properties itself, possibly of 2%.

Original Story: OK Diário – Borja Jiménez

Adaptation/Translation: Richard D. K. Turner

Merlin Properties Nears Sale of Portfolio of 26 Office Buildings

18 November 2019 – Merlin Properties is close to finalising the sale of a portfolio of 26 office buildings in Madrid and Barcelona for an estimated 200 million euros. The socimi is selling assets, with a total area of 133,000 square meters, which it considers to be non-strategic. Merlin expects to finalise the sale by the end of November and disclosed that it already has received a deposit from the presumed buyer.

The sale is taking place a few weeks after the firm managed to enter into Madrid’s Operation Chamartín as a partner. Chamartín is the largest urban development project currently underway in Europe. Merlin acquired a 14.4% stake in Distrito Castellana Norte, the owner to the development rights for Operation Chamartín from the San José construction group. The socimi agreed to pay 169 million euros for the stake, in addition to granting an €86 million loan to the construction group.

Original Story: La Información

Adaptation/Translation: Richard D. K. Turner

Merlin Properties to Build Torre Adequa, a New 25-Floor Office Building in Madrid

18 November 2019 – Merlin Properties announced that it would build a new high-rise office building in northern Madrid. The 25-floor Torre Adequa will be over 100 meters high and close to 30,000-m2 of surface area.

Construction on the site is set to begin in early 2020 and conclude approximately two years later. Merlin expects to invest about 110 million euros, including the acquisition of the land.

The new building, at Avenida Burgos 89, is in the existing Adequa office complex, near five other high-rises, including the Torre Caleido. The new office building will have a surface area of close to 30,000 m2, in a 76,000-m2 office park. The complex’s main tenants include Audi and Técnicas Reunidas. Adequa has stores, a gym, restaurants, pharmacy, paddle tennis courts and a nursery.

Original Story: Idealista

Adaptation/Translation: Richard D. K. Turner

Merlin Properties Extends €129-Million Loan to San José

6 November 2019 – Merlin Properties has extended a €129.10 million loan to the San José construction group, part of a recent transaction which saw the Spanish socimi acquire a 14.4% stake in Operation Chamartín. The socimi agreed to pay €168 million as well as grant the loan to San José.

The loan is structured into two tranches, the first, worth 86.39 million euros, has a 20-year maturity and an interest rate of 2%.

The second, €42.72-million tranche, also pays 2%. Merlin structured the loan as a cash deposit to guarantee working capital financing that San José has until October 31. The second tranche will mature on December 2.

Original Story: Expansión

Adaptation/Translation: Richard D. K. Turner

Merlin Properties Acquires 14.4% of Operation Chamartín from San José for €168 Million

1 November 2019 Merlin Properties has acquired a 14.46% stake in the Operation Chamartín urban development from the San José construction group for 168.89 million euros.

The socimi has thus become the second major investor in the mega-project, through its acquisition of part of San José’s 24% stake in the development. BBVA, in turn, owns the remaining 74%.

The operation includes a loan to San José. Currently, Merlin has a portfolio of land, residential properties, shopping centres and logistics platforms valued at €12.375 billion. Merlin, the largest socimi in Spain, is coming into the development at a time when construction is finally set to take off, after twenty years of negotiations.

Original Story: La Vanguardia – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner