H.I.G. Capital has completed the acquisition of two office buildings totalling approximately 15,000m² in Madrid. One of the buildings has been recently refurbished to a high standard, while the other will undergo an extensive renovation, benefiting from the strong occupier market, which is attracting the interest of major international tenants. The purchase price was not disclosed.
Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “Our focus in Spain is on high-quality assets with the potential of becoming a highly liquid institutional product as the result of the envisaged value add initiatives.”
Esteban Caja Samboal, Principal at H.I.G. Europe Realty Partners in Madrid, added: “Spain 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.”