H.I.G. Capital, LLC, a global private equity investment firm with over $34 billion of equity capital under management, has acquired an office complex totaling approximately 29,000 sqm in Lyon, France’s second economic centre. The purchase price was not disclosed.
The buildings are expected to be delivered in March 2021 and have already been 70% pre-let to an A rated French corporate tenant on a long-term basis, said in the statement.
“Our focus in France is on high delivering quality assets with strong tenants that have the potential of becoming highly liquid institutional product as the result of the envisaged value-add initiatives,” said Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe in a statement.
“France represents an important part of our European strategy and we continue to seek additional small and mid-cap, value-add, investment opportunities to increase H.I.G.´s presence in this market. Lyon, the second economic centre after Paris, currently has very strong growth prospects which will benefit this project,” said Mihai Gavriloiu, Principal at H.I.G. Europe Realty Partners in London.