H.I.G. Capital, LLC, a private equity investment firm with over $34 billion of equity capital under management, has acquired two office buildings totalling approximately 15,000 sqm in Madrid.
One of the office buildings in Madrid has been recently refurbished to a high standard, while the other will undergo an extensive renovation, benefiting from the strong occupier market, which is attracting the interest of major international tenants. Terms were not disclosed.
H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.
Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “Our focus in Spain is on high quality assets with the potential of becoming highly liquid institutional product as the result of the envisaged value add initiatives.”
Esteban Caja Samboal, Principal at H.I.G. Europe Realty Partners in Madrid, added: “Spain 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.”