H.I.G. Capital, a leading global investment firm, announced today that its affiliate has completed the sale of Parque Ceuta Shopping Center to a consortium of private investors. The scheme, comprising 14,500 m² and mainly let to Eroski, Inditex, C&A and Cortefiel, was inaugurated in 2002 and acquired by H.I.G. Capital in January 2014.
Ahmed Hamdani, Managing Director at H.I.G. in London commented: “This is the second successful exit from our Real Estate portfolio in the last nine months. H.I.G. has completed 18 acquisitions in the small and mid-cap European Real Estate value add segment during the past three years and we continue to see interesting opportunities in Spain and across the continent”.
Adolfo Favieres, Director at H.I.G. in Madrid added: “We are pleased to announce this transaction as it demonstrates our ability to create value through an active management of the asset over a short period of time”.
Source: H.I.G. Capital