HIG Capital has acquired three residential building in Lisbon as part of a plan to expand the firm’s value-add residential portfolio in Portugal.

The $43bn (€35.4bn) global alternative investment firm said one of its affiliates has completed the acquisition through multiple transactions. Financial details were undisclosed.

Riccardo Dallolio, managing director and head of HIG Europe Realty Partners, said the company sees significant opportunities in the Lisbon residential sector to expand its platform.

“Our focus in Portugal is on refurbishing assets in prime locations to meet the local and international demand for residential units.”

Esteban Caja Samboal, principal at HIG Europe Realty Partners in Madrid, said: “The Lisbon residential sector is benefiting from a unique combination of structural change and favourable supply/demand fundamentals.

“HIG has extensive experience in operationally-intensive sectors and this investment is a logical continuation of our European portfolio.”

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