Meridia Capital completes office building investment worth €70M

Meridia Capital completes office building investment worth €70M

Meridia has purchased two buildings with a combined surface of 23,000 sq. m. and 282 parking spaces. Office occupancy rates stand at 80%.

In addition, Meridia has closed a deal for the purchase of an office portfolio made up of 17,500 sq. m. of office space spread over several buildings. Most of these are located in Barcelona, though the portfolio also contains one in Pamplona. Among those in Barcelona, especially noteworthy is the Alta 1 building, in Esplugues de Llobregat, next to Nestlé's headquarters, which is also owned by Meridia. The occupancy rate of this portfolio, bought from a Catalonian family office, reaches 84%.

Both purchases will be incorporated into the portfolio of Meridia Real Estate III, which filed its request to be listed as a Socimi last April. This fund, created less than a year ago with initial capital amounting to €250 million (from large international investment firms) has an investment capacity of up to €600 million. The aim is that it will list as a Socimi on the MAB in 2018.

In addition to the two latest purchases, the new Socimi owns nine buildings (eight offices and one logistics warehouse) that Meridia bought from Inmoseguros in May for €50 million.

It is not the manager’s only fund. Meridia is also finalising the closure of its Meridia II fund, launched in May 2014, with an investment capacity of €400 million.

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