US private equity group HIG Capital has completed two debt and equity real estate acquisitions in Europe with the purchase of a retail portfolio in Norway and a non-performing loan package in Italy.
US private equity group HIG Capital has completed two debt and equity real estate acquisitions in Europe with the purchase of a retail portfolio in Norway and a non-performing loan package in Italy.
In Norway, HIG has bought a portfolio of 16 predominantly grocery store-anchored retail assets let to the two leading grocery retailers in the country.
The deal is the group's first in the Norwegian market, said Riccardo Dallolio, managing director at HIG in London. 'The Nordics market represents an important part of our European strategy and we continue to actively look at opportunities in the small/midcap sector in the region.'
Seb d’Avanzo, principal at HIG added: 'This transaction further demonstrates our ability to leverage our local relationships in the Nordics by securing a portfolio of assets with solid, defensive income in place, but where we can add value through various asset management initiatives.'
In Italy, where HIG has been increasingly active over the past two years, the Group has invested in the securitisation of a portfolio of non-performing loans backed by a mixture of residential and commercial real estate, predominantly in the regions of Emilia-Romagna, Lombardy and Tuscany in Northern Italy.
Terms were not disclosed.
'This underscores our continued focus on the Italian real estate market where we have invested both in NPLs and direct assets,' commented Dallolio.
