US private equity firm HIG Capital has provided debt and equity financing to an Athens-based property company, Dimand, through one of its affiliates.
Financial details were not disclosed.
The funds will be predominantly be used to finalise office and hotel developments in Athens, according to HIG, which focuses on value-add small and midcap opportunities across Europe.
Riccardo Dallolio, head of HIG Europe Realty, said: 'We believe Greece presents good niche opportunities in a recovering real estate market. In this instance, we have invested in a high quality company with a strong asset base, and our preferred equity position provides significant downside protection.'
'This transaction demonstrates our strong sourcing capabilities in Greece and our ability to structure complex transactions suitable for the needs of the local market,' added Stelios Theodosiou, principal at HIG Europe Realty in London.
