Merlin Properties SOCIMI SA is a Spain-based company engaged in the real estate investment trust business. Founded in 2014 by former Deutsche Bank executives, the company focuses on the acquisition, management, and leasing of commercial real estate properties located across the Iberian Peninsula, primarily in Spain. The company's activities are divided into six segments: Office Buildings, which operates an office portfolio; High-street retail, involving the leasing of retail stores; Shopping Centers, focusing on department store management; Logistics, operating logistics warehouses and distribution centers; Hotels, through the leasing of hotel buildings; and Others, which includes the rental of residential real estate properties. The company controls several subsidiaries, such as Tree Inversiones Inmobiliarias SOCIMI SAU, MPEP - Properties Escritórios Portugal SA, Testa Inmuebles en Renta SOCIMI SA, and Obraser SA. With the support of international investment funds such as BlackRock, Principal Financial Group, Marketfield, and Invesco, it acquired more than 1,000 offices from BBVA. It subsequently acquired the real estate division of Sacyr and Metrovacesa. Wikipedia