The alternative investment manager Meridia Capital has closed the purchase of the Hotel Presidente in Eivissa from a company controlled by the Oak Hill Advisors fund. Víctor Iborra, partner in the company’s real estate area, explained that the firm will undertake an investment plan to reposition the hotel, located on the north coast of the island, in Cala Portinatx, on the seafront, and turn it into a 5-star establishment. stars with around 225 rooms, which will be among the most prominent in Ibiza’s luxury tourism market.
Iborra explains that the purchase of the hotel is the largest investment made so far by the Meridia V fund, after the acquisition of the Hotel Gallery in Barcelona and the Molina Lario, in Malaga, from the Gómez Casals family.
This fund has raised contributions of 400 million euros, which will allow it to mobilize an investment of 800 million. “We will focus on hotels and to a lesser extent on logistics and residential assets. And, very selectively, we are also open to properties from other sectors.”
Meridia, chaired by Javier Faus, has more than 1,000 million euros under management. It currently has its third fund in the process of divestment, and the fourth and fifth funds in the investment process, as well as another fund specialized in luxury camping, which has already raised 136 million euros.
Iborra explained that Meridia is committed to direct management of its hotels, as it is already doing at the Gallery in Barcelona, ??“because it is a more profitable option and gives us flexibility when disinvesting,” he acknowledged. But at the Ibizan hotel, due to its characteristics, “we are also open to looking for an operator.”
Meridia, within the framework of its fourth fund, also has an agreement with channel B
