Meridia buys two hotels after closing latest real estate fund

Meridia, the Spanish-based alternative investment manager, has launched Meridia V, after completing a first close.

The fund is expected to be the largest vehicle raised to date by Meridia.

Meridia V has already made its initial investment: a portfolio of two hotels in Barcelona and Málaga, comprising a total of 213 rooms.

The investment manager see the properties — the Hotel Gallery in Barcelona's city centre and Hotel Molina Lario in Málaga — as offering significant growth potential.

Meridia V plans to implement a smart capex and asset management strategy to position both assets in the upper four-star segment, while maintaining high environmental, social, and governance (ESG) standards.

Meridia V focuses on diversified value-add real estate opportunities in Spain, established to target areas of unsatisfied demand at the end-product level and, more generally, to exploit the long-term secular trends in the Spanish real estate market such as brown to green transformation, new demographics re-shaping real estate needs or scarcity of land.

What they said

Héctor Serrat, real estate partner at Meridia, said: "Meridia V enters the market in a unique moment. We will continue to execute our thematic, growth-focused investment strategy, while prioritizing investments with strong local proprietary angles. By combining our strategic approach, market expertise, and commitment to sustainability, Meridia V aims to capitalize on the current window of opportunity and deliver superior value for our investors. Our initial investment in these prime hospitality assets of Barcelona and Málaga is a clear example of such strategy."

Cristina Badenes, partner and head of investor relations at Meridia, said: "The launch of Meridia V reinforces our standing as one of Spain's leading alternative investment managers. Amidst current challenging market conditions, we are proud to continue being a trusted choice for international capital in Spain. With our unwavering commitment to delivering consistent results and a longstanding track record, we continue to be a partner of reference in the market."