H.I.G. Capital (H.I.G.) announced that one of its affiliates has invested in an off-market transaction to acquire a strategic land plot in Southwark, London. The transaction is the second joint venture with HUB Residential, a leading UK residential developer.
The site is the final asset in a c. 4-ha regeneration project at Elephant Park. Delivered in partnership with Lendlease, a global construction and real estate company, and the Southwark Council, the development has already delivered nearly 3,000 affordable, build-to-rent, and for-sale homes. It also has a completed two-acre public park with natural stone play areas, water features, and a net-zero heating network to serve the emerging residential community.
When fully completed, the site will deliver a professionally managed, sustainable, mixed-use scheme that features best-in-class onsite amenity provisions, ESG credentials, and much-needed affordable housing to the community.
Riccardo Dallolio, Managing Director and Head of H.I.G. Realty in Europe, commented, “The London residential market continues to benefit from strong fundamentals. We are committed to growing this platform and are proud to invest in quality locations that provide private and affordable housing to the city.”
Stelios Theodosiou, Managing Director at H.I.G. Realty in Europe, added, “This transaction further demonstrates our conviction in the London Living Sector and ability to source and execute off-market transactions. We are delighted to be working alongside HUB Residential again to grow our living platform in a site already anchored with significant amenities and a strong community offering.”
Image source - Pexels.
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