Meridia completes sale of Sea Towers

Alternative investment manager Meridia is pleased to announce that it has completed the divestment of Sea Towers, a landmark transaction within its vehicle Meridia III.

The 29,000 sqm office asset, fully developed by Meridia and composed of two buildings of thirteen and seven floors, is located in the sea front within the 22@ district, one of the most sought-after and most established business areas in Barcelona. The building’s main tenant is consultancy firm NTT Data (former Everis),
a subsidiary of NTT.

This deal is a remarkable example of Meridia’s differentiated strategy: Meridia first acquired the plot in 2017 from different private owners in an off-market
transaction; carrying out a comprehensive urban transformation project to turn it into a leading mixed used complex (office and residential). In 2018, Meridia secured a 10-year pre-let for the office building.

Designed by GCA architects, Sea Towers has not only been a pioneering building in terms of innovation and architecture but has also achieved several sustainability and wellbeing recognitions, such as LEED Platinum and WELL Gold certifications, acknowledging features like energy efficiency, waste optimisation and user wellbeing, among others. The project was also financed with Green Financing from the Green Loan Principles.

This transaction is another step forward in Meridia III’s realization program. This vehicle was launched in 2016.


Javier Faus, Chairman of Meridia, commented: “This transaction represents an important milestone for Meridia. Through this project, we have generated shared value for the district. The deal is an example of collaboration with local authorities to promote urban transformation, creating a prime, sustainable complex perfectly integrated within the community and with the highest ESG standards. This transaction demonstrates continued demand for well-located, quality office assets in Barcelona.”

Victor Iborra, Real Estate Partner at Meridia, added: “This deal represents one of our most ambitious projects to date: we have completed a full transformation project, delivering our business plan above expectations while also developing an innovative asset.”