H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity and alternative asset investment firm with more than €18bn of equity capital under management, announced today that one of its affiliates has completed a structured debt investment to assist York Ventures in acquiring the freehold interest in Yorkshire House. The iconic city centre building will be transformed into a 124 bedroom Malmaison Hotel with 49 serviced suites. Terms were not disclosed.
This transaction represents H.I.G.’s 32nd real estate investment in Europe since the start of 2013. H.I.G. continues to add to its sizable portfolio of real estate assets in 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 at H.I.G. in London commented: ”This transaction further demonstrates our ability to invest across the capital structure in different asset classes and jurisdictions. We continue to see interesting small/midcap value-add opportunities in the U.K. market”.
Graham Emmett, Managing Director at H.I.G. in London added: “York is a regional U.K. city with a wealthy demographic, and strong business and international tourism links. This structured debt investment is an opportunity for us to support a local investor in regenerating a major city gateway, with a debt instrument which is underpinned by strong real estate fundamentals. The structured finance market represents a key strategy for H.I.G. and we continue to actively look at such opportunities in the U.K. and across Europe”.
