Meridia Capital, the Barcelona-based alternative investment firm, has purchased a mid-sized shopping centre in the capital of Catalonia for €35 mln.
Meridia acquired Barcelona's Barnasud shopping centre on behalf of the Meridia III fund from Unibail-Rodamco. Additionally, the buyer plans to carry out a €7 mln capital expenditure programme to improve the asset.
Built in 1995 by food retailer Caprabo and sold to Unibail in 2002, the shopping centre comprises 34,000 m2 of leasable retail area over two floors above ground and a basement. There are also 2,450 parking spaces.
The tenants include food retailer Carrefour (13,000 m2), MediaMarkt (3,300 m2) and the cinema chain Cinesa (3,000 m2). A 2,000 Star’s-branded gym is expected to open soon on the second floor.
Juan Barba, managing director of real estate at Meridia Capital, said: 'Barnasud is a fantastic addition to our Meridia III portfolio. This deal represents the seventh purchase of the investment vehicle and the first retail asset bought in Barcelona, following the acquisition of Albufera Plaza and MiraMadrid shopping centres in Madrid through Meridia II.'
CBRE, Uría Menéndez and Hill International advised Meridia Capital in this transaction.
Meridia Capital Partners is an independent investment group with €1 bn of assets under management in Spain.
