HIG Capital has bought a portfolio of eight retail property assets in Italy.
The 11,500 sqm portfolio, in northern Italy, is let to tenants including clothing chain OVS, electrical retailer Euronics and sports chain Cisalfa.
The deal is HIG’s third in Italy, where it has made both equity and debt investments.
Riccardo Dallolio, managing director at HIG in London, said: “The Italian market represents an important part of our European strategy, and we will continue to look at opportunities in the small and mid-cap sectors.”
The transaction is the company’s twentieth real estate investment in Europe since early 2013.
In February, HIG invested in a non-performing loan portfolio with Eidos Partners and originated by Group Cassa di Risparmio di Cesena.
The portfolio of 52 loans was backed by residential and commercial real estate in the Emilia-Romagna and Le Marche regions.
Chinese investor Fosun Property recently bought its first asset in Italy, investing around €345m in Milan office building Palazzo Broggi through its Shanghai Forte Land vehicle.