Real Estate

Meridia Capital fund sells Barcelona’s Nestlé headquarters to Korean IGIS for €87 million

Valliance advised Meridia Capital fund on the €87 million sale of a building in Espluges de Llobregat, a strategic location in the prime area of Barcelona’s outskirts, to Korean investment and securities Co. Ltd.

The property, current Nestlé headquarters, has more than 50,000 sq. m and comprises five office buildings and 579 parking spaces. Meridia acquired the property in 2015, in one of the first operations carried out by the fund, and has invested €11 million in the adaptation of the buildings, thus achieving the Leed Platinum rating in one of the buildings and Leed Gold in another and in the communal areas of the complex.

As regards Nestlé, the company holds a long-term agreement and has carried out adaptation works on the property, since the company decided to move the technological division from its Swiss Headquarters to Barcelona in May 2019.

The buying side was advised by White Lion.

We spoke with Juan Barba, Partner-Managing Director of Meridia Capital:

Valliance has managed to get ahead of the market and has advised us on the divestment of one of our main assets, such as Nestlé Headquarters in Barcelona. Their good work, proactivity and creativity made the operation feasible, and thanks to their extensive experience they knew how to overcome the different obstacles”.