H.I.G. Capital has completed the acquisition of a c.29,000m² office complex in Lyon, France’s second economic centre. The buildings are expected to be delivered in March 2021 and have already been 70% pre-let to an A-rated French corporate tenant 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: “Our focus in France is on high delivering quality assets with strong tenants that have the potential of becoming a highly liquid institutional product as the result of the envisaged value-add initiatives.”
Mihai Gavriloiu, Principal at H.I.G. Europe Realty Partners in London, added: “France represents an important part of our European strategy and we continue to seek additional small and mid-cap, value-add, investment opportunities to increase H.I.G.´s presence in this market. Lyon, the second economic centre after Paris, currently has very strong growth prospects which will benefit this project.”
