H.I.G. Capital, LLC (“H.I.G.”) has provided debt and equity financing to Dimand SA, a leading Athens based property and development company. Funds will predominantly be used to finalise office and hotel developments in Athens. Terms were not disclosed.
H.I.G. Capital continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a focus on its target market of value-add small and midcap opportunities.
Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty, commented: “We believe Greece presents good niche opportunities in a recovering real estate market. In this instance, we have invested in a high quality company with a strong asset base, and our preferred equity position provides significant downside protection”.
Stelios Theodosiou, Principal at H.I.G. Europe Realty in London, added: “This transaction demonstrates our strong sourcing capabilities in Greece and our ability to structure complex transactions suitable for the needs of the local market”.