According to Financial Post, one of the buildings was recently remodelled, and the other will be converted by the new owner.
This is one more operation in line with the company’s expansion plan for Europe. The company has a global portfolio worth more than 34.000 million dollars and an aggregated turnover above 30.000 million dollars.
Riccardo Dallolio, Managing Director and Head of HIG Realty Partners Europe, commented that «our focus in Spain is on high quality assets with the potential of becoming highly liquid institutional products as the result of the envisaged value add initiatives».
Esteban Caja Samboal, Principal at HIG 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».