Sabadell finances Meridia to acquire and refurbish two Madrid hotels

Cuatrecasas has advised Banco Sabadell on the financing granted exclusively to investment manager Meridia, to acquire and refurbish two hotels in Madrid from French fund Extendam. This transaction marks the entry of the Meridia V fund into the Spanish capital and reinforces the company’s commitment to the hotel sector in strategic locations.

The two acquired establishments are Hotel Madrid Centro Atocha, with 230 rooms and 102 parking spaces, located near the Atocha train station; and Ibis Budget Madrid Aeropuerto, with 156 rooms and 53 parking spaces, located near the Adolfo Suárez Madrid-Barajas airport, the Ifema exhibition center, and Madrid’s key logistics coridoor. Both assets are part of the Meridia V portfolio, a real estate vehicle launched in 2023 that has raised €300 million and has already completed five transactions.

Advice and implementation of the transaction

Banco Sabadell has provided the entire financing granted to Meridia. The Cuatrecasas advisory team was made up of Pol Solsona, Víctor Utges, Vidal Vicente and Mireia Moll (Finance); and Aina Maragall and Alicia del Valle (Real Estate and Town Planning) who are responsible for urban planning due diligence.

The transaction stood out for its extraordinary demands in terms of complexity and scheduling, factors that revealed the team’s ability to carry out highly demanding processes under tight deadlines, providing significant added value to the client.

Pol Solsona spoke about the transaction: “This year the hotel sector is attracting a particularly significant volume of bank lending in Spain and we are pleased to continue to have the trust of leading financial institutions like Banco Sabadell, and the most sophisticated sponsors such as Meridia, to participate in the most significant transactions in the market.”