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HIG acquires €110m Portuguese loan and property portfolios

The London-based real estate investment manager has purchased 77 real estate assets and 114 secured loans via a value-added strategy.

HIG Realty Partners, the real estate arm of private equity investor HIG Capital, has acquired two real estate-based portfolios in Portugal. The portfolios are comprised of 77 real estate assets and 114 secured loans with a face value of over €110 million.

The London-based real estate investment manager acquired the portfolios from Finangeste, a Portuguese asset manager.

“This investment demonstrates our ability to execute complex transactions in the Portuguese market. We continue to acquire undervalued real estate assets and assets where we see an opportunity to add value by enhancing the income and quality of the asset,” commented Ahmed Hamdani, managing director and co-head of European real estate at HIG.

The transaction is HIG’s 21st real estate investment in Europe since the establishment of its real estate team 2013. Notable deals have included the purchase of a €107 million portfolio of Finnish supermarkets from AXA in December last year and a €495 million Romanian NPL portfolio last July from Volksbank Romania.

The firm also bolstered its ranks at the start of the year with the hire of Riccardo Dallolio. Dallolio, who joined as co-head of European real estate, was previously at AXA Real Estate where he was head of alternatives and special situations and part of AXA’s drive into value-add opportunities which commenced in 2012.

HIG Realty Partners makes opportunistic investments in small to mid-sized real estate assets across all property types located in the US and Europe, with a specific focus on special situations.