Merlin integrates Loom, shows full commitment to coworking

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The SOCIMI*, which until recently owned 31% of Loom, has acquired the entire company which had plans to open six new flexible office spaces during the next months in Madrid and Barcelona, ​​reaching 13,000 square meters of offices.

Merlin Properties buys Loom and reinforces its commitment to flex spaces

The SOCIMI has integrated Loom, a flexible and collaborative workspace aggregator, as reported by the company in a statement.

Merlin Properties anticipates that, with full integration, Loom will reach 13,000 square meters of flexible offices by the end of 2019 with the opening of six new spaces in Madrid and Barcelona.

Currently, Loom operates in three flexible work spaces located in the center of Madrid, totaling 3,500 square meters in total. The three spaces of the company that are already operational are Loom Tapestries, located in the Royal Tapestry Factory, Loom Huertas, located at number 11 Huertas street, and Loom Princesa, in the Plaza de los Cubos in the city.

The company is also developing two other centers in the Spanish capital: Loom Eucalyptus and Loom Salamanca, which will open in June and September, respectively, and during the next months plans to land in Barcelona with the opening of three new flexible work spaces .

The first will be located on three floors of the Glories Tower and the second at the World Trade Center in the municipality of Cornellà de Llobregat (Barcelona). Merlin estimates that these first two flex spaces are operational in October. The third will be a "singular space" located in the 22 @ technological district, with capacity for 260 jobs.

"For Merlin, the flexible space market presents a great opportunity as it currently grows 20% each year and, according to various studies, could represent 20% of the total office market by 2030," said David Brush, director of Merlin investments, in a note from the company.

*The Spanish REIT was founded in October 2009 under the name of Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario ("SOCIMI").

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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