Tag: Igis
Blackstone Negotiates Sale of Helios Building to a South Korean Fund for €200M
10 June 2019 – Eje Prime
The British real estate manager Savills Investment Management (IM) is looking to buy the Helios office building from Blackstone on behalf of an unidentified South Korean investor.
The property, which is currently under construction, will have ING as its main tenant and the sales price could reach €200 million.
The largest investor in South Korea is the National Pension Service (NPS) and the next largest is the Korea Investment Corporation (KIC). Other possible investors include the country's banks, the manager IGIS and Samsung Securities.
Original story: Eje Prime
Translation/Summary: Carmel Drake
Author Carmel DrakePosted on June 11, 2019 Categories Offices, Real Estate NewsTags Blackstone, Helios building, Igis, ING, Samsung Securities, Savills Investment Management, tenant, under construction
Meridia III Doubled its Revenues and Cut its Losses by 76% in H1
24 October 2018 – Eje Prime
Meridia III is reducing its losses. The Socimi owned by Meridia Capital recorded losses of €522,124 to June, which represented a reduction of 76% with respect to the first half of 2017, according to reports from the company to the Alternative Investment Market (MAB).
The company recorded revenues of €8 million during the first six months of the year, doubling its turnover in comparison with the same period last year. The firm's EBITDA amounted to €3.3 million, reversing the negative figure of €964,673 recorded between January and June 2017.
In recent months, Meridia III has continued with its growth plans and has completed two high-profile divestments. The first was the sale to Barings of five office buildings that it owned in Avalon, as revealed by Eje Prime. That deal was followed by another at the start of October when it sold the property that houses Nestlé's headquarters in Barcelona to Igis for €87 million.
Listed on the MAB since the end of 2017, Meridia Capital's Socimi has also made some significant investments in the Spanish office market such as the purchase in March of a building in the financial district of Madrid for €26.5 million. The building, measuring 7,500 m2, is located at number 4 Calle Juan Hurtado de Mendoza, close to Paseo de la Castellana. Moreover, in Barcelona, the Catalan manager has leased its new building in the 22@ district to the international consultancy firm Everis.
At the beginning of October, Meridia Capital completed a capital increase of €13 million in Meridia III. The increase in funds will give the Socimi "greater guarantees to face and develop future projects and investments", according to explanations provided by the manager in a document published on its website.
Author Carmel DrakePosted on October 25, 2018 Categories Offices, Real Estate NewsTags 22@ district, Avalon, capital increase, ebitda, Everis, financial district, funding, Igis, landlord, Madrid, Meridia Capital, Meridia III, profits, results, revenues, Socimi, tenant