Meridia has announced the sale of Project Jupiter, a logistics portfolio of approximately 30,000 square meters comprising two assets located in Granollers and Barberà del Vallès, both situated in Barcelona’s first logistics ring. The transaction, closed this Wednesday, was completed for approximately €50 million, with the U.S. fund Nuveen acting as the buyer.
The deal forms part of the divestment strategy of Meridia IV and highlights the firm’s ability to execute value-add business plans, enhance asset quality, and complete successful exits in markets supported by strong occupier demand. In this regard, the company stated that the divestment “represents a milestone in the Catalan logistics market and reflects the continued institutional appetite for high-quality logistics platforms, with scale and located in core markets with limited supply.” It also emphasized that the lack of available land and high demand are currently two key factors shaping the sector.
Specifically, the Granollers asset comprises 11,300 square meters and was acquired by the firm in 2023 while still under development, with the aim of leasing it to a single tenant under a long-term contract. Meanwhile, the Barberà del Vallès asset, totaling 17,600 square meters, has undergone a comprehensive refurbishment and expansion and is now fully leased.
This transaction is part of the firm’s broader divestment process, with its third fund almost بالكامل exited, while the fourth fund continues to progress through this phase. The sale of these two logistics assets in Catalonia follows shortly after another recent divestment involving an office building in Madrid and two additional assets in Barcelona.
At the same time, Meridia remains active on the investment front through Meridia V, its latest value-add real estate vehicle. In addition, the firm is preparing to launch its sixth vehicle, targeting a size of between €450 million and €500 million. Currently, Meridia manages more than €1 billion in assets.
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