H.I.G. Capital, LLC announced that one of its affiliates has recently completed an investment in Portopiccolo, a state of the art, self-contained luxury complex near Venice which includes 203 high-end residential apartments, a five-star hotel with a spa and 110 marina berths. Terms were not disclosed.
Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “This marks our 10th real estate investment in Italy. The Italian real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure.”
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Gabriele Magotti, Managing Director at H.I.G. Europe Realty Partners in Milan, added: “This transaction demonstrates our strong local sourcing capabilities in Italy and our ability to structure complex transactions with significant potential to add-value.