Miami-based HIG Capital has completed a structured debt investment to help York Ventures acquire the freehold interest in Yorkshire House in the North East of England.
York Ventures plans to transform the city centre building into a 124 bedroom Malmaison Hotel with 49 serviced suites. Terms were not disclosed.
'This transaction further demonstrates our ability to invest across the capital structure in different asset classes and jurisdictions. We continue to see interesting small/midcap value-add opportunities in the UK market,' commented Riccardo Dallolio, managing director at HIG in London.
The transaction represents HIG's 32nd real estate investment in Europe since the start of 2013.
