Miami-based private equity firm HIG Capital has invested in an owner and operator of Greek logistics property and acquired an office building in London.
The US$43bn (€34.5bn) investment company said one of its affiliates had invested in Makios Logistics, a provider of integrated logistics services and operator of temperature-controlled warehousing in Greece.
Founded in 1927, Makios owns and operates two state-of-the-art logistics assets in Thessaloniki and owns logistics assets and land north of Athens, which HIG Capital said had “significant expansion potential”.
Riccardo Dallolio, managing director and head of HIG. Europe Realty Partners, said: “This marks our ninth industrial and logistics real estate investment in Europe.
“The sector continues to be an attractive asset class for HIG, driven by strong investment fundamentals and secular tailwinds.
“More specifically, the Piraeus and Thessaloniki ports are two key logistics hubs not only at a national but also at a European level, and we believe Makios is strongly positioned to capture an increasing share of trade flows.”
Stelios Theodosiou, principal at HIG Europe Realty Partners, said: “We are partnering with the company and its management as the ideal platform to grow and execute on HIG’s logistics strategy in the region.
“Makios already possesses state-of-the-art facilities and systems and, together with HIG’s hands-on operational approach, we plan to grow it into a regional champion.”
It has also been announced that HIG Capital has acquired the London office building at 1-6 Tavistock Square for £33.1m (€36m).
Macquarie Capital Principal Finance said it sold the 10-storey building after acquiring it in 2014.
Tavis House is held on a 78-year leasehold with Bedford Estates.
Alexi Antolovich, global co-head of real estate at Macquarie Capital Principal Finance, said: “Tavis House has been a very successful investment for us and, in line with our strategy, has delivered stable capital returns and a long-term income stream – and we wish HIG Capital all the very best with the property in the future.”