Merlin Properties SOCIMI, S.A. is a Spanish real estate investment trust (REIT) headquartered in Madrid, specializing in the development, acquisition, active management, and rental of tertiary commercial properties across the Iberian Peninsula, primarily in Spain and Portugal. Its core purpose is to own and operate a diversified portfolio exceeding 4 million square meters, encompassing key segments such as office buildings with 120 properties, logistics warehouses and distribution centers totaling 120 facilities, 12 shopping centers, and 3 data centers. The company also engages in high-street retail leasing, property management services for third parties, and selective asset rotation to optimize its holdings. Founded in 2014 by former Deutsche Bank executives with backing from major international funds, Merlin Properties has grown through significant acquisitions, including office portfolios from BBVA and real estate divisions from Sacyr and Metrovacesa, establishing itself as a prominent player in the IBEX 35 index since 2015. This structure positions it as a vital contributor to the commercial real estate sector, supporting business operations, retail, logistics, and emerging data infrastructure needs.