Merlin Properties

Merlin Properties is a Spanish real estate investment trust (REIT) based in Madrid, specializing in the acquisition, management, and development of commercial properties across Spain and Portugal. The company focuses on office buildings, high street retail assets, shopping centers, logistics facilities, hotels, and other commercial real estate sectors. Since its inception in 2014, Merlin Properties has grown to become a significant player in the Iberian real estate market, with a diverse portfolio of assets.

The company's investment strategy emphasizes active management and value creation through strategic acquisitions and developments. Merlin Properties has expanded its portfolio by acquiring over 1,000 office properties from BBVA and later acquiring the real estate division of Sacyr (Testa) and Metrovacesa. It has also been a component of the IBEX 35 since 2015, reflecting its prominence in the Spanish stock market.

In recent years, Merlin Properties has demonstrated strong financial performance, reporting a net profit of €283.8 million in 2024, a significant turnaround from the previous year's loss. The company's revenue reached €516 million in 2024, marking a 14% increase from the prior year. Additionally, Merlin Properties has been actively involved in the development of data centers in Spain and Portugal, with several facilities already operational and new projects underway, including campuses for artificial intelligence. The company's commitment to growth and innovation continues to drive its success in the competitive real estate sector.