H.I.G. Capital, a leading global investment firm, announced that its affiliate has completed the acquisition of the Grosvenor Shopping Centre in Chester for a purchase price of approximately £65 mln (€90.7 mln).
The transaction represents H.I.G. Capital's 16th real estate investment in Europe since the start of 2013. H.I.G. continues to add to its sizeable portfolio of Real Estate assets in Europe, especially in its target market of small/midcap opportunities with a meaningful value-added component.
Riccardo Dallolio, Managing Director at H.I.G. in London commented: “This investment demonstrates our ability to secure value added assets in the UK market. In this respect, our speed of execution and flexible approach gave us a competitive edge. We will continue to acquire assets where we see an opportunity to add value by enhancing the income and quality of the asset.”
Seb d’Avanzo, Director at H.I.G. added: “We are pleased to complete this transaction, which presents us with an opportunity to reposition the dominant retail asset in Chester.”
Source: H.I.G Capital