The real estate venture capital firm, founded by the Catalan businessman Javier Faus, has closed the acquisition of an industrial building in Barcelona's buoyant 22@ district. Through its Meridia RE IV fund, listed on Euronext Access Paris, it has purchased the property located at 86 Calle Pere IV, the tenth acquisition of the investment vehicle.
Javier Faus and his shareholders have paid 9.2 million euros for the property, which has been financed by a capital increase of 9.4 million euros. Without making public the investment to be made in the refurbishment, Meridia has paid 2,752 euros per square metre built.
The existing building has 3,343 square metres of industrial use, spread over three floors, built on a plot of 1,130 metres. The ground floor has 1,115 square metres, a surface area similar to that of the first and first floors, 950 and 940 square metres, respectively, while the third floor is the smallest, 338 square metres. The intention of the investment fund is to convert it into a modern and up-to-date office building in an area with a high demand for workspace.
Next to this building, on Avinguda Nova Icaria, Meridia has built another smaller building of 7,000 square metres. Likewise, on Carrer Pere IV with Fluvià, very close to where it has executed its latest purchase, the company has also developed a 24,600 square metre building.