Cuatrecasas advises Banco Sabadell on financing granted exclusively to investment manager Meridia for the acquisition and refurbishment of two hotels in Madrid, valued at approximately €65 million, from the French fund Extendam. This transaction marks the entry of the Meridia V fund into the Spanish capital and reinforces the company’s commitment to the hotel sector in strategic locations.
The two properties acquired by Meridia are the Hotel Madrid Centro Atocha, offering 230 rooms and 102 parking spaces, located just a short distance from Atocha station; and the Ibis Budget Madrid Aeropuerto, with 156 rooms and 53 parking spaces, situated next to Adolfo Suárez Madrid-Barajas Airport, the Ifema exhibition centre, and Madrid’s logistics corridor. Both assets are part of the Meridia V portfolio, a real estate vehicle launched in 2023 that has raised €300 million and has already completed five transactions.
Advisory and execution of the transaction
Banco Sabadell has provided the entire financing granted to Meridia. The Cuatrecasas team advising on the deal was led by Pol Solsona, Víctor Utges, Vidal Vicente, and Mireia Moll from the Finance practice, with Aina Maragall and Alicia del Valle responsible for the urban planning due diligence from the Real Estate and Urban Planning practice.
The transaction stood out for its extraordinary complexity and tight timeline, demonstrating the team’s ability to execute highly demanding processes within very short deadlines, delivering significant added value to the client.
“The hotel sector is attracting a particularly significant volume of bank lending in Spain this year, and we are pleased to continue to enjoy the trust of leading financing institutions such as Banco Sabadell, and of sophisticated sponsors like Meridia, to participate in the most relevant transactions in the market,” said Pol Solsona about the transaction.
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