Meridia acquires a 207,000 sqm logistics project in Valencia

Real Assets | 01.07.2024

Meridia, the Spain-focused alternative investment manager, is delighted to announce the successful acquisition of a premier logistics project in Aldaia, a growing industrial zone strategically situated along Valencia’s prime logistics corridor. Boasting superb connections to both the city and its port, this acquisition is a key enhancement to our portfolio and demonstrates our commitment to broadening our footprint in Spain’s vibrant logistics sector.

The project spans 207,000 square meters of strategically positioned land, designated for the construction of approximately 140,000 square meters of cutting-edge logistics facilities across several warehouses. This development presents a rare opportunity to create a modern logistics park with highest ESG standards.
Valencia has firmly established itself as one of Spain's most significant logistics hubs, featuring a solid, institutionally backed market. The city's logistics sector is supported by dynamic conditions, very low vacancy rates, and significant modernization of its logistics infrastructure. This robust demand and strategic location make the project an exceptional investment opportunity.

Victor Iborra, Partner at Meridia, stated: "We are proud to have completed this transformative urban project that establishes a state-of-the-art logistics park, leveraging Meridia's extensive experience in the logistics sector. This development, in an unparalleled location within Spain, reinforces Meridia’s presence in Valencia, after having acquired a camping facility in Javea, Alicante, two months ago through our vehicle MGP. Meridia will continue seeking transformative opportunities in the community.”

Marta de Azlor, Director at Meridia, added: " The logistics sector in Valencia is experiencing a great transformative phase, and we are delighted to have committed to a project that is shaping up to be a cornerstone of the area's logistics landscape. Our investment will benefit from a robust market, driven by solid sector fundamentals such as positive consumption dynamics, e-commerce growth, and the need to increase stock levels to prevent supply chain disruptions."

This transaction marks Meridia V’s third investment, solidifying the Fund as a diversified value-add platform targeting key segments in Spain. Meridia V is dedicated to identifying and capitalizing on value-add opportunities across the Spanish market. The fund's strategy focuses on creating scalable platforms by aggregating assets and consolidating fragmented sectors through vertically integrated operational real estate. It primarily targets investments in three core sectors: Hospitality, Logistics, and Living, with potential additional ventures in highly opportunistic segments, such as brown to green transformation in centrally located offices.

Cuatrecasas, Colliers and Savills acted as advisors to Meridia in this transaction.