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Spain’s Meridia takes ‘big step’ forward

Juan Barba, the former head of real assets at Spanish bad bank Sareb says a deal by his current employer to buy €100 million of assets from GE Real Estate has increased its exposure to offices

Juan Barba, the former head of real assets at Spain’s bad bank, Sareb, says his current firm’s deal to buy 11 office buildings in Spain for around €100 million from GE Capital Real Estate is a “big step forward”.

Barcelona-based Meridia Capital Partners revealed today it had made the high-profile acquisition on behalf of Meridia Iberian Real Estate Fund, the company’s first fund that launched in May 2014 and duly collected €150 million of equity. 

The transaction will add seven office properties in Barcelona and four in Madrid with a total area of more than 900,000 square feet. Barba said: “This acquisition, the fourth carried out by Meridia Iberian Real Estate Fund, is a big step forward. It has increased our exposure to the office segment significantly. We continue to deploy equity in a very conscious and meaningful way, carefully selecting those deals that we believe can add greater value to our investors.”

Meridia is a start-up begun by Javier Faus, a former Iberian managing partner for London-based Patron Capital between 2003 and 2006. Faus recruited Barba in September 2014 as managing director for real estate. As head of transactions at Sareb, Barba was responsible for monetizing a portfolio of around €50 billion of assets formerly owned by troubled Spanish banks and building societies. 

Meridia targets investments in foreign property markets especially Latin America. But in the statement accompanying the transaction, Faus said Spain continued to offer “very interesting opportunities”.

As well as deploying Meridia Iberian Real Estate Fund – Meridia II for short – the company has just launched Meridia Impact Fund, a new vehicle focused on entrepreneurial and innovative socially responsible investments in Spain.

Juan Barba, the former head of real assets at Spanish bad bank Sareb says a deal by his current employer to buy €100 million of assets from GE Real Estate has increased its exposure to offices

Juan Barba, the former head of real assets at Spain’s bad bank, Sareb, says his current firm’s deal to buy 11 office buildings in Spain for around €100 million from GE Capital Real Estate is a “big step forward”.

Barcelona-based Meridia Capital Partners revealed today it had made the high-profile acquisition on behalf of Meridia Iberian Real Estate Fund, the company’s first fund that launched in May 2014 and duly collected €150 million of equity. 

The transaction will add seven office properties in Barcelona and four in Madrid with a total area of more than 900,000 square feet. Barba said: “This acquisition, the fourth carried out by Meridia Iberian Real Estate Fund, is a big step forward. It has increased our exposure to the office segment significantly. We continue to deploy equity in a very conscious and meaningful way, carefully selecting those deals that we believe can add greater value to our investors.”

Meridia is a start-up begun by Javier Faus, a former Iberian managing partner for London-based Patron Capital between 2003 and 2006. Faus recruited Barba in September 2014 as managing director for real estate. As head of transactions at Sareb, Barba was responsible for monetizing a portfolio of around €50 billion of assets formerly owned by troubled Spanish banks and building societies. 

Meridia targets investments in foreign property markets especially Latin America. But in the statement accompanying the transaction, Faus said Spain continued to offer “very interesting opportunities”.

As well as deploying Meridia Iberian Real Estate Fund – Meridia II for short – the company has just launched Meridia Impact Fund, a new vehicle focused on entrepreneurial and innovative socially responsible investments in Spain.