H.I.G. Capital has recently invested in a 8,600 m² trophy office building in the historical centre of Milan. The flagship building will undergo an extensive renovation, benefiting from the strong occupier market which is attracting the interest of major international tenants, especially in the financial sector. Terms of the deal 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. Europe Realty Partners in London, commented: “Our focus in Italy is on high-quality assets with the potential of becoming a highly liquid institutional product as the result of the envisaged value-add initiatives.”
Gabriele Magotti, Principal at H.I.G. Europe Realty Partners in Milan, added: “The strong demand in the historical centre of Milan for both high-street retail and office tenants makes the restoration of these historical buildings an attractive investment proposition”.
