Spanish investment manager Meridia Capital has acquired an extensive block in Barcelona's 22a technology district for an undisclosed sum, with a plan to transform it into a mixed-use complex with both office and residential components.
The 43,400 m2 asset, with a sea front location, will become a 32,200 m2 prime office and around 11,200 m2 of apartment space. The vendor was not disclosed.
'We are very excited about contributing to the development of ‘Front Marítim’ and the 22@ district, which are Barcelona’s true innovation areas,' commented Javier Faus, founding partner and CEO of Meridia Capital.
'This will be one of the most ambitious projects that will be executed in the coming years. We are very optimistic about the future of our city and hope that deals like the one we are announcing today will help attract more companies and talent to this district.'
The acquired block currently comprises the old ice factory ‘La Siberia’ and the former plant of ‘Industrias Deslite’, which are both under Barcelona’s Special Plan for Architectural and Historical Heritage Protection. Meridia therefore plans to preserve the façade and structure of both historical buildings.
This acquisition is the fourth deal carried out through Meridia III, the latest real estate vehicle of the alternative investment firm with a €500 mln investment capacity. Its predecessor Meridia II had an investment capacity of €400 mln and is now fully deployed.
