HIG Capital’s (HIG) affiliate has reached an agreement with the shareholders of Finangeste, a Portuguese asset manager, to acquire two real estate-based portfolios.
The portfolios are comprised of 77 Real Estate assets and 114 secured loans with a face value of over EUR110 million.
The transaction represents HIG’s 21st real estate investment in Europe since the beginning of 2013. HIG continues to add to its sizeable portfolio of Real Estate assets in Europe, especially in its target market of small/midcap opportunities with a meaningful value-added component.
Ahmed Hamdani (pictured), Managing Director at HIG in London, says: “This investment demonstrates our ability to execute complex transactions in the Portuguese market. We continue to acquire undervalued real estate assets and assets where we see an opportunity to add value by enhancing the income and quality of the asset.”
Sanjoy Chattopadhyay, Principal at HIG, adds: “We are pleased to complete this transaction, which gives us a strong platform for additional investments in both the Portuguese NPL and Real Estate markets.”
y will be a great complement to the existing Virpus team in helping to move the company forward."
