Transforming real estate

investment in Spain

Invest with Meridia
Current
Exited
Current

Meridia III

Meridia IV

Meridia III

2016
Vintage
€220 million (incl. dis. co-inv.)
Equity

Investment Strategy

  • Diversified portfolio

Value add

  • Commercial real estate and living
  • Spain
  • Fully invested and exiting

Meridia IV

2019
Vintage
+ €250 million
Equity

Investment Strategy

  • Diversified portfolio in real estate investment with strategies concentrated in the most liquid markets

Value add

  • Commercial real estate and living
  • Iberia
  • Investing
Exited

Meridia I

Meridia II

Meridia I

2007
Vintage
€150
Equity

Investment Strategy

  • Global portfolio of premium hotel properties mostly in Latin America and Europe’s urban markets.

Value add

  • Vintage: 2007
  • Hospitality
  • Mostly Latin America and Europe
  • Liquidated in 2014 – Ranked top 10% by Preqin

Meridia II

2014
Vintage
€150
Equity

Investment Strategy

  • Diversified portfolio of commercial real estate

Value add

  • Commercial real estate and residential
  • Spain
  • Liquidated in 2021
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Two office buildings located within Viladecans Business Park (Barcelona), acquired in October 2016 and divested to an international institution in July 2022.

 

The assets have a total surface area of approximately 23,000 sq. m and 280 parking spaces. The two class-A buildings are located within easy reach of the city centre and the airport.

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Logistics platform spanning 39,000 sq. m in Toledo, located in the third ring of the well-known A-4 Highway (Andalucía Highway), around 40 km from Madrid.

 

Acquired in 2017 and divested to an institutional investor in 2022 as part of an enlarged perimeter. Meridia acquired four logistics assets individually and aggregated a portfolio.

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In 2022 we divested an 8,300 sq. m office building in Madrid's MADBIT district. The asset was acquired in July 2017.

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In November 2017 we acquired Barnasud shopping centre, a 30,500 sqm mixed-use property located in Barcelona. Meridia asset and project management teams are working to reposition and reconvert the asset.

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In December 2018 we acquired several plots of land with a total buildable area of 24,605 sq. m. The land is located in Barcelona’s 22@ district, one of the areas of the city with the highest potential. 

 

Meridia Capital carried out a transformation plan, developing a unique smart office complex, fully integrating it within the local community. The office complex was completed in 2022.

 

MILESTONES

Signed a lease with a triple-A tenant

LEED Platinum and Well Platinum certification awarded for the sustainability and high level of well-being that the complex provides.

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In January 2019 Meridia Capital acquired a Hotel in Madrid's Chamartín district. The asset has a total surface of 12,580 sqm split in 199 rooms. The transaction also included 2 adjacent commercial spaces and 94 parking units. Meridia Capital plans to carry out diverse refurbishment actions in order to improve and reposition the asset leveraging on the team's expertise and track record in the hospitality sector.

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Situated in Barcelona’s innovation district, 22@, this project is designed to link the city’s industrial past with its future, which revolves around the tech sector.


Meridia first acquired this plot in 2017 from different private owners in an off-market transaction. From there, we carried out a comprehensive urban transformation project, developing a 29,000 sq. m office complex plus residential development.

 

In May 2022 we completed the sale of Sea Towers to an international institution in a landmark transaction within Meridia III.

 

MILESTONES
2017: Acquired 43,400 sq. m of land from several owners
2018: Ten-year lease contract with a multinational
2022: Sold Sea Towers

LEED Platinum and Well Platinum certification awarded for the sustainability and high level of well-being that the complex provides.

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In September 2016 Meridia acquired an office portfolio located mostly in Barcelona. The portfolio was divested in different transactions in the 2020 to 2022 period, mostly to institutional capital.

 

The assets had a total surface area of approximately 17,400 sq. m plus 280 parking spaces.

 

The main building, Alta 1, is located in Esplugues (Barcelona), in front of Nestlé’s Spanish headquarters, which were part of the Meridia II portfolio. The portfolio also included a smaller office building in downtown Barcelona.

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In January 2020 Meridia III exited its first transaction, Project White. The office building was acquired in May 2018 in Madrid's central business district. The asset has around 7,500 sqm divided into 4,800 sqm of office space and 2,500 sqm of commercial property as well as 54 parking spaces.

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In July 2021 we completed the sale of a 27,500 sq. m warehouse in Alovera (Guadalajara, 30 minutes away from Madrid).

 

The asset was acquired in 2018 and disposed as part of an enlarged portfolio: Meridia acquired logistics assets through individual granular transactions and carried out an aggregation strategy.

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Logistics platform spanning 26,367 sq. m in Corredor de Henares, an area close to Madrid considered to be the main logistics hub in the Spanish market. 

 

The asset was acquired in 2018 and disposed to an institutional investor in 2022 as part of an enlarged perimeter. Meridia acquired four logistics assets individually and aggregated a portfolio.

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Nine-asset portfolio, totalling approximately 42,000 sq. m, including eight office buildings, a logistics warehouse and parking spaces. Located in the metropolitan areas of Madrid and Barcelona.

 

Portfolio acquired in April 2016 and divested through different transactions in the 2020 to 2022 period.

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Project Glam (buy and build camping platform) was initiated in Meridia IV but exited as a spin off to new vehicle, Meridia Glamping Program, where Meridia IV continues as investor.

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In December 2021 we acquired two office buildings located in Sarriá, a high-class residential neighborhood in the west of the urban center of Barcelona. While the demand for offices in this area is very high, the offer remains very limited what makes this deal a great opportunity to further consolidate Meridia Capital’s position in Barcelona´s top rated office market. The assets have a total surface of 4.257 sqm and 9 parking spaces. Meridia plans to execute diverse refurbishment actions to improve and reposition the assets.

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In December 2021 we acquired an office building located in Madbit district, the innovation and technological hub of Madrid. With this deal Meridia continues to further consolidate its position in one of the most demanded capital areas where it already has a strong presence. The asset has a total surface of 20.188 sqm and 180 parking spaces. Meridia plans to execute diverse refurbishment actions to improve and reposition the asset.

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In March 2021 we acquired a 23,000 sqm logistics platform located in Gelida, close to Barcelona. The asset is located in a prime logistics area: Barcelona’s first ring, and has excellent access to the main roads. This deal represents a great opportunity to further consolidate Meridia Capital’s position in Barcelona’s top rated logistics market. Meridia Capital plans to execute diverse refurbishment actions in order to reposition the asset.

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In March 2020 we acquired a c.20,000 sqm industrial asset located next to Barcelona, in Barbera de Valles, a prime industrial area within the first ring of Catalonia logistic market. This deal represents a great opportunity to acquire an asset in Barcelona’s sought after and top rated logistics market. Meridia plans to reposition the asset with significant CapEx.

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In March 2021 we acquired an office building located in Barcelona’s 22@, consolidating Meridia’s position in Barcelona’s technological hub. The asset has a total surface of 4.295 sqm and 22 parking spaces. Meridia Capital plans to execute diverse refurbishment actions in order to reposition the asset.

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In March 2020 Meridia acquired Hesperia Barcelona del Mar, a 4-star hotel located in Barcelona’s sea front area, within the 22@ district.  The asset has 84 rooms split across c.5,800 sqm. This acquisition  strengthens Meridia presence in 22@ district and represents a unique opportunity to acquire a hospitality asset in Barcelona, a market where Meridia has strong experience through past vehicles.

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In November 2019 we acquired a portfolio of four office buildings, two located in Barcelona and two in Madrid. Total surface area of the assets is 26,323 sqm. The main asset is a c.7,000 sqm building in Barcelona’s 22@ district. This is diversified investment by geography and risk-profile with strong potential to improve the assets leveraging on Meridia’s asset management capabilities.

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In October 2019 we closed the first investment of Meridia IV, the acquisition of an office building located in Madrid’s MadBit district, one of the areas with the greatest potential in the city, where Meridia has a strong track record. The asset has a total surface area of 9,563 sq. m and 226 parking spaces.

 

MILESTONES
2019 Acquired a 9,563 sq. m office building


CHARACTERISTICS
9,563 sq. m office complex
226 parking spaces

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This luxury 5-star hotel opened in 1994. Meridia I acquired it at the end of 2009 and sold it in May 2013. 

 

Operator: Four Seasons Hotels & Resorts.

 

Location: Paseo de la Reforma, in Mexico City’s financial district, just a few minutes from Chapultepec Park and the upscale Polanco district.

 

Number of rooms: 240

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This 5-star hotel opened in 2003. Meridia I acquired this property in August 2007 and sold it in 2013, together with the Crowne Plaza Hotel also in Santiago.

 

Operator: The Ritz-Carlton Hotel Company (Marriott).

 

Location: Santiago de Chile, in “El Golf” district, the city's most upmarket residential area.

 

Number of rooms: 205

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This hotel opened in 1981 and was acquired by Meridia I in June 2007. After a major refurbishment in 2008, the Fund sold the hotel in 2013, together with the Ritz-Carlton Hotel in Santiago.

 

Operator: InterContinental Hotels Group.

 

Location: Santiago de Chile, located in the city centre and close to the main tourist attractions and government bodies.

 

Number of rooms: 293

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Acquired by Meridia I in 2009 and divested in 2014. The deal represented the group's entry into Brazil's hotel market. During Meridia I´s tenure, the asset was improved and repositioned. 

 

Operator: InterContinental Hotels Group.

 

Location: Sao Paulo, Brazil. Just a few minutes from Avenida Paulista, the business district and cultural centre of the city.

 

Number of rooms: 193

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The W Paris Opera Hotel was acquired by Meridia I in February 2008, becoming our inaugural property in Europe. The Haussmann-style building was originally an office complex built in 1870 and boasted a total surface area of 8,500 sqm. Meridia led the reconversion of the property into a mixed-use project including hotel and retail space. 

 

Operator: Starwood Hotels & Resorts.

 

Location: Paris, in the 9th arrondissement, just next to the prestigious Opera Garnier and the famous Gallerie Lafayette.

 

Number of rooms: 91

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This 1,400 sqm retail space was acquired in 2008 as part of the W Paris Opera Hotel transaction. The iconic Apple Store opened in June 2010 and was sold in 2012.

 

Operator: Apple.

 

Location: Paris, in the 9th arrondissement, just next to W Paris Opera, very close to the prestigious Opera Garnier and the famous Gallerie Lafayette.

 

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The project undertaken in Thailand involved the acquisition in 2008 of a minority stake in a three hotel portfolio operated by Six Senses Hotels Resorts Spas. The Fund exited this deal at the end of 2010.

 

Operator: Six Senses Hotels Resorts Spas.

 

Brands: Evason and Six Senses Hideaway.

 

Location: Phuket and Hua Hin, Thailand.

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Acquired in June 2014 as German multinational Henkel’s corporate headquarters in Spain. The asset's prime location—close to Barcelona's Sagrada Familia—allowed for significant upside potential through redevelopment as a mixed-used asset (hotel and residential). Meridia Capital's project management team repositioned the property and turned it into a 182-room four-star hotel and 38 residential units.

 

Hotel sold to an institutional investor as part of an enlarged portfolio in April 2019.

 

Residential units sold individually by 2020. 

 

MILESTONES

Certificates: LEED, Biosphere, Safe Tourism and Barcelona Sostenible

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Shopping centre spanning 7,148 sq. m, located in Madrid.

 

Acquired in July 2015 and sold in April 2019 as part of a portfolio transaction after active tenancy management and refurbishment.

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Office building in Madrid totalling c. 4,000 sqm. The asset was bought in July 2017 from a global real estate investment manager and realised in April 2019 as part of an enlarged transaction with a global institutional investor.

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Portfolio of 24,063 sqm comprising four assets located primarily in Madrid. The portfolio included a logistics platform and three retail units. Acquired in December 2016 and sold to both individual and institutional investors throughout 2017-19.

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12 retail units located mainly in Madrid. The premises - mostly food retail units - have a joint built area of c.29,000 sqm . The main anchor tenant is Mercadona - the leading food retailer in Spain. Meridia acquired the portfolio in July 2015 and partially sold it in April 2019 as part of enlarged perimeter. 

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Portfolio acquired in March 2015 and mostly realised to an institutional investor in April 2019 as part of an enlarged perimeter transaction.

 

Portfolio of 11 office buildings spanning 84,000 sq. m, located predominantly in new business areas in Spain’s two main cities (66% in Barcelona and 34% in Madrid).

 

One of the portfolio’s main assets is Meridian tower, a 24,000 sq. m office building in Barcelona. 

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Portfolio of 11 food retail centres mostly located in Valencia’s metropolitan region, with a total constructed area of 24,130 sq. m, leased to the Valencia-based cooperative Consum, one of the main food retailers in Spain.

 

Portfolio acquired in January 2015. In April 2019 three assets were sold to an institutional investor as part of an enlarged transaction. The rest of the portfolio was sold individually.

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Mixed-use property (office/retail) acquired in September 2014 and divested in January 2019 to an institutional investor.

 

The 16,795 sq. m asset, located in Madrid, was split into a shopping centre and an office building.

 

Under Meridia’s tenure, the asset underwent a major transformation and was completely repositioned.

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Logistics platform acquired in May 2016 and sold in December 2018 to an institutional investor. The asset, with a total surface of c. 22,000 sqm, was built with high quality standards. The property is located in Ribarroja de Turia, a prime location in one of Valencia´s best logistics areas. During its tenure, Meridia managed to substantially improve its tenant mix and increase occupancy.

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In October 2018 Meridia Capital sold Nestle’s Spanish headquarters to an Asian investment manager. The property, acquired in February 2016, comprised five office buildings and had a combined built area of 27,607 sq. m as well as around 600 parking spaces.

 

During its holding period, Meridia carried out significant refurbishment and asset management actions for the corporate tenant, helping reposition the buildings and adapting them to the tenant’s needs.

 

MILESTONES

Sold with a ten-year contract with a triple-A tenant
Achieved two LEED certifications

Achieved energy efficiency savings of over 50%

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In May 2015 Meridia Capital acquired Project Avalon, a portfolio of 33 assets located mainly in Madrid (which accounted for more than 80% of total value). The portfolio included office, retail and residential assets as well as a land plot in Valencia. 

 

Most of the portfolio was exited in August 2018 through the disposal of Avalon business park (5 buildings comprising 24,495 sqm located in the MADBIT district in Madrid). The remaining portfolio was realised in April 2019 as part of enlarged perimeter transaction.

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Horizon II was acquired in March 2015 and divested in July 2015. The portfolio comprised 2 centrally located asssets in Barcelona. The properties, named 'Girona 2' and 'Via Laietana 4', were office buildings with residential use.