HIG adds Italian retail to its European property basket

US private equity group HIG Capital has completed the acquisition of a portfolio of eight retail assets in Italy.

The portfolio comprises over 11,500 m2 and tenants include OVS, Euronics and Cisalfa. The investment volume was not disclosed.

The transaction represents HIG's 20th real estate investment in Europe since the start of 2013.

The Miami-based investor said it continues to add to its portfolio of real estate assets in Europe, comprising both equity and debt investments, with a particular focus on its target market of value-add small/midcap opportunities.

Riccardo Dallolio, managing director at HIG in London commented: 'This is our third transaction in Italy, where we are investing in both NPLs and direct assets. The Italian market represents an important part of our European strategy and we will continue to look at opportunities in the small/midcap sector.'

Gabriele Magotti, director at HIG in Milan, added: 'This transaction further demonstrates our ability to leverage our local presence in Italy by securing a high quality and well located real estate portfolio in Northern Italy, where we can add value through additional asset management initiatives.'

See also, HIG Capital acquires office building in Manchester