Meridia acquires an office building in Madbit for €12M

Meridia acquires an office building in Madbit for €12M

The real estate fund manager will invest close to 55 million in the development of a new office complex at number 22 Julián Camarillo, in what is known as the Madbit district, to the east of Madrid.

Through the Meridia IV fund, the manager has acquired a 20,188-square-meter property from a family group and is now preparing to update it with the aim of turning it into a modern office building. Sources in the sector indicate that Meridia has acquired the property for around twelve million euros and that it will now invest more than forty million in its reform, which brings the operation to around 55 million euros.

It is not Meridia's first investment in Madbit. The socimi owns four other office buildings in the area, totaling 33,100 square metres. Meridia has three properties on Juan Camarillo street and one on Cronos square, which it acquired in 2019.

Madbit seeks to replicate the successful model of the 22@ district of Barcelona as a commitment to innovation and technology. The area is located to the east of Madrid with the epicenter in streets such as Julián Camarillo, Miguel Yuste or Isaac Ramos.

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