Cuatrecasas advises Banco Sabadell on €65 million financing to Meridia for acquisition of two Madrid hotels

Cuatrecasas has advised Banco Sabadell on the financing granted to investment manager Meridia for the acquisition and refurbishment of two hotels in Madrid from French fund Extendam. The transaction has been valued at approximately €65 million.

This transaction marks the entry of the Meridia V fund into the Spanish capital. It also reinforces the company’s commitment to the hotel sector in strategic locations.

The two acquired properties are the Hotel Madrid Centro Atocha, featuring 230 rooms and 102 parking spaces near Atocha Station. And the Ibis Budget Madrid Aeropuerto, offering 156 rooms and 53 parking spaces in a prime location next to Adolfo Suárez Madrid-Barajas Airport, the IFEMA exhibition centre, and Madrid’s key logistics hub.

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 execution of the transaction

Banco Sabadell has secured all of the financing granted to Meridia. The Cuatrecasas team responsible was made up of Pol Solsona, Víctor Utges, Vidal Vicente and Mireia Moll from the Finance department. Aina Maragall and Alicia del Valle were responsible for urban planning due diligence from the Real Estate and Urban Planning department.