HIG Capital announced on Friday that one of its affiliates has recently completed an investment in Portopiccolo, a state of the art, self-contained luxury complex near Venice which includes 203 high-end residential apartments, a five-star hotel with a spa and 110 marina berths.
Terms were not disclosed.
Riccardo Dallolio, managing director and head of HIG Realty Partners Europe, commented: 'This marks our 10th real estate investment in Italy. The Italian real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure.'
Gabriele Magotti, managing director at HIG Europe Realty Partners in Milan, added: 'This transaction demonstrates our strong local sourcing capabilities in Italy and our ability to structure complex transactions with significant potential to add-value.'
