Spanish investment manager Meridia Capital has acquired a 24,063 m2 portfolio of four assets located primarily in Madrid for a total investment of around €20 mln.
The deal, which includes a logistics platform and three retail units, was conducted via Meridia II, a €150 mln real estate fund launched in 2014 focusing on Spanish logistics, retail and office assets.
'This deal is yet another example of the good value-add opportunities that the Spanish market offers,' commented Juan Barba, managing director for real rstate at Meridia Capital. 'The presence of many prominent tenants in the area of our recently acquired logistics platform proves the relevance of this prime location. This deal further strengthens our retail/logistics exposure in Spain, complementing our previous acquisitions of a warehouse in Valencia plus the Consum and Aecus retail portfolios.'
The logistics platform, located in Getafe, has a total gross leasable area of 16,385 m2, while the three retail units have a total area of 7,678 m2 and are leased to tenants including Mercadona, Spain's largest food retailer.
Following this transaction, Meridia II is almost fuly invested (94%).
Meridia Capital was advised by Aguirre Newman and Cuatrecasas, while the seller was advised by CBRE.
