Cabo de Gata, panoramic view
Sustainable camping operator Wecamp announced yesterday the acquisition of two new assets located in Cabo de Gata (Almería) and Cala Montjoi (Girona). The properties will have a combined area of more than 15 hectares and will operate a total of 700 units. The purchase and development of both projects will surpass 25 million euro.
This new investment platform was launched in 2020 through a joint venture between Wecamp and the operator and alternative investment fund investor Meridia Capital.
Meridia owns the assets and also a significative share of Wecamp’s stock. The joint venture follows a strategy of aggregation seeking to create the leading platform for Portugal and Spain, while contributing towards the professionalisation and institutionalisation of a sector lacking enough investment, which is also highly fragmented.
These acquisitions represented the second and third investments carried out by the platform, which is currently analysing between five and ten assets for the near future. The new company intends to build an innovative programme of open-air accommodation, first in Spain and Portugal and then in other Southern European markets during a second stage.
Established in 2020, Wecamp represents a new generation of innovative and sustainable camping companies which seek to revolutionise open-air accommodation. The company aims to transform and update designer campings and glampings, respectful towards people and the environment.
Meridia Capital is an alternative investment management company with more than 850 million euro invested and more than 250 million euro in assets under management. Through several vehicles, Meridia Capital has acquired experience within the real estate industry. The management company’s activity also includes other areas such as private equity, venture capital and impact investment.