Veracruz Properties Acquires NOBO Office Centre in Alicante

✦ Meridian Analysis

Veracruz Properties, the listed socimi on BME Growth, has signed an agreement to acquire the NOBO office centre in Alicante from Metromedia Inversiones, the vehicle of the local Palacio family. The transaction is an outright asset purchase valued at €24.68 million, of which €23.68 million is being funded through a new 15‑year loan from Caixabank indexed to Euribor + a spread, with the balance supplied as equity by Veracruz. The buyer is expanding its portfolio beyond the four shopping‑centre assets it already manages, adding a 19,500 m², 90 % occupied office complex that can host up to 2,000 employees. From a deal‑making perspective, professionals will focus on the financing mix, the loan’s tenor and pricing, the occupancy profile and tenant quality, and the incremental asset‑under‑management value that lifts Veracruz’s portfolio to roughly €245 million. Advisers were Olazabal y Asociados for the buyer and CBRE together with Bufete Ferrer Pallas for the seller. Earlier this month Meridian reported Alexandria Real Estate Equities closing a €4.4 billion credit facility. What remains undisclosed are the transaction’s implied price‑per‑square‑metre and any earnings multiple applied to the asset, as well as the exact spread over Euribor and any covenants attached to the Caixabank facility. Details on regulatory clearances, the timetable for integration into Veracruz’s management platform and any future refinancing plans have not been made public, leaving room for further scrutiny as the deal moves toward completion.

The Meridian Weekly