The information was disclosed by Ismael Clemente, the REIT’s leader, during the Iberian REIT Conference, organized by EPRA and by Iberian Property, which took place this Thursday in Madrid.
It is called Plan Best 3, and it involves the purchase of assets in Valencia, the Basque Country, Seville and Lisbon. According to EFE agency, the plan should kick off in 2020, with the first deliveries expected between 2022 and 2024. It follows Best 2, which was focused mainly in Madrid and Barcelona. All the details will be revealed at the REIT’s next general meeting.
During the conference, Merlin attested that it started 2018 with a 474 million euro cash flow and it closed the year with 500 million euro. 85% of its stock is self development.