Meridia acquires two assets in Barcelona’s metropolitan area for repositioning and transformation

Meridia has acquired two office buildings in Sant Just Desvern, Barcelona, as part of a value-add strategy focused on the transformation and repositioning of underutilised assets in high-potential urban environments. The project, located at Carrer de la Constitució 1 and 3, comprises more than 18,000 sqm of gross area and benefits from a well-established location with strong connectivity to Barcelona city centre and direct access to key transport infrastructure. The buildings feature an efficient layout and significant repositioning potential; however, due to limited investment in recent years, they have fallen outside current market standards for office buildings and no longer fully meet the requirements and expectations of today’s occupiers. As a result, the assets are currently operating below their optimal use. Their location within an area undergoing substantial transformation—driven by the development of a major biomedical and hospital hub along Av. Diagonal—further reinforces the strategic rationale of the investment.

Meridia’s business plan envisages a full refurbishment of the assets into an extended stay hospitality-led complex with a flexible operating model, designed to cater to evolving demand patterns and new forms of urban stay while generating a positive impact in the area. The buildings will incorporate a range of shared spaces and services tailored to modern users, combining flexibility, service offering and quality of experience.

The project will involve a complete “brown-to-green” transformation, significantly enhancing the assets’ energy performance, reducing their carbon footprint, and aligning them with the highest ESG and sustainability standards.

The assets’ proximity to major healthcare and innovation developments positions the project within a rapidly evolving environment, where growing activity is driving new demand for services. In this context, the buildings will be designed to act as a key piece of service infrastructure, catering to professionals, visitors and users connected to this expanding ecosystem.

Victor Iborra, Partner at Meridia, commented: "This acquisition is fully aligned with Meridia’s strategy of identifying investments with strong transformation potential and creating value through active asset management and repositioning”. He added: “Established healthcare and innovation hubs tend to act as strong anchors for urban transformation, driving sustained demand for services and reshaping their surrounding areas. In this context, our focus is on repositioning existing assets to better serve this evolving ecosystem, delivering a high-quality and sustainable product aligned with current market needs.”