Meridia Capital Partners has announced that it has completed the acquisition of Nestlé’s Spanish headquarters, located at Esplugues de Llobregat in Barcelona.

The facilities, all previously let to Nestlé, comprise five buildings with a total built area of around 527,000 sq ft and 579 parking spaces.

The larger of the two office blocks will remain as Nestlé’s headquarters and the second one, which is currently vacant, will be partly occupied by the Swiss multinational as well as by third parties. The other three assets are a convention centre, a showroom and a building with different amenities including a restaurant, cafeteria and a bank branch.

Managing director for real estate at Meridia Capital, Juan Barba, said: “We have bought very attractive real estate assets leased to a widely recognised and international AAA tenant. We are delighted to work together with a multinational group of worldwide stature such as Nestlé and hope to continue strengthening our excellent relationship with them in the years ahead.

“The acquired buildings are in an excellent location, only a few minutes away from one of Barcelona’s main business districts and with easy access to the centre. With these new assets in our portfolio, Meridia II is close to being fully invested.”

Meridia Capital will carry out a CapEx programme to further improve the facilities. They were advised on this deal by Uría Menéndez, CBRE, Deerns and GCA.

The founding partner and chief executive of Meridia Capital, Javier Faus, added: “There are still highly attractive opportunities in the Spanish real estate market, which we will continue seizing in the future through our new real estate vehicle, Meridia III.”