Meridia Capital has closed the sale of Nestle’s headquarters in Barcelona to Korean investment manager IGIS Asset Management , advised by Savills Investment Management.
The facility comprises five office buildings totaling 50.000 sqm and a gross leasable area of 27.607sqm. It is situated in Esplugues de Llobregat, nearby Avenida Diagonal in Barcelona, a prime location where other multinationals like Bayer, Cobega or Codorniu are headquartered . The property - Nestle’s headquarters in Spain since the 1970’s - is equipped with almost 600 parking places.
Since Meridia acquired the asset s in February 2016 it has carried out diverse refurbishment actions in order to reposition them. As a result, Bu i lding 1 has obtained the LEED 1 P l atin um whereas Building 2 and its common areas have been certified with LEED Gold.
Juan Barba, Real Estate Partner at Meridia Capital stated: “With the disposal of this asset we continue divesting our Fund II. Since acquisition only two and ha lf years ago Meridia has delivered on the Fund ́s value add strategy and has managed to carry out a refurbishment programme that has improved the facilities significantly. The buildings have raised high market interest.
This successful disposal is yet another example that the Barcelona office market continues to be very active and that liquidity remains high”. Ashurst, Cushman & Wakefield, KPMG y Colliers han asesorado al comprador mientras que el despacho Uría Menéndez y Valliance Real Estate Advisors han actuado como asesores del vendedor.
About Meridia Capital
Meridia Capital Partners SGEIC, S.A. is an independent investment group with assets under management of c. €1 billion (including debt). Over the last years it has become one of the main regulated alternative investment firms in Spain.
Throughout its history, Mer idia Capital has achieved above average returns and manages a mainly institutional LP base. The firm has grown to become a successful multi - sector and multi - fund investment company.
Through its vehicles Meridia I, II and III, it boasts extensive experienc e in the real estate industry. In addition, Meridia Capital is also active in the private equity sector through Meridia Private Equity I.
Quote 1: LEED, Leadership in Energy & Environmental Design: International evaluation system developed by U.S. Green Building Council in order to promote sustainable and energy - efficient buildings.
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