H.I.G. Capital has acquired and successfully completed the re-development of a mixed-use asset totalling approximately 11,500m² in the centre of Mannheim, Germany. The asset is now fully pre-let on a long-term basis. The purchase price was not disclosed.
Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “This is our third investment in Germany in the last two years, and our focus continues to be on delivering highly liquid institutional products as a result of well-executed value-add initiatives”.
Tuna Atay, Director at H.I.G. Realty Partners Europe, added: “This transaction further demonstrates our strong capabilities in Germany and our ability to significantly improve an asset through a proactive refurbishment and leasing strategy”.