Barcelona-based alternative investment firm Meridia Capital has purchased several plots of land in Barcelona's 22@ district from Dospuntos Asset Management for €25.8 mln.
Representing a total buildable area of 24,605 m2, the site comprises five adjacent plots, between the streets of Pere IV and Fluvià.
According to Meridia, the land acquired is adjacent to La Escocesa, a former industrial complex now owned by Barcelona City Council, which will be refurbished to host social housing and public services.
'We keep on investing in Barcelona, particularly in its 22@ district, a leading hub for innovation centres, startups, cutting-edge technology companies and universities,' said Javier Faus, founder & CEO at Meridia Capital.
'We will work together with the city council in order to develop a sustainable project, integrated within the city, the district and the area of La Escocesa,' Faus added.
Meridia Capital plans to develop the land for tertiary use. Including this deal, the company now owns a total buildable area of over 60,000 m2 in the 22@ district.
The deal brings the Meridia III fund – launched in 2016 - to almost full deployment. Its predecessor, Meridia II, is fully deployed and is currently in exit mode.