Miami-based private equity firm HIG Capital has purchased a holiday apartment complex in Málaga, Spain via one of its affiliates for an undisclosed sum.
The Valle Romano complex in Estepona, Málaga, comprises a total area of around 46,000 m2 and is situated within Valle Romano Golf. It comprises 430 apartments with correspondent facilities including swimming-pools, gym, restaurants, and paddle courts.
'This is our seventh investment in Spain in the past three years. Spain represents an important part of our European strategy and we continue to seek additional small and mid-cap, value-add, investment opportunities to increase HIG's presence in this market,' commented Riccardo Dallolio, managing director at HIG in London.
HIG Capital, which has international affiliate offices across Europe as well as in the United States, currenty has €20 bn of equity capital under management. Its real estate funds focus on value-add properties.
