H.I.G. Capital acquires two offices in Madrid

H.I.G. Capital has acquired two office buildings totaling approximately 15,000 square meters (161,000 square feet) in Madrid.

“Our focus in Spain is on high-quality assets with the potential of becoming highly liquid institutional product as the result of the envisaged value-add initiatives,” said Riccardo Dallolio, managing director and head of H.I.G. Realty Partners Europe.

Terms were not disclosed.

One of the buildings has been recently refurbished to a high standard, while the other will undergo an extensive renovation, benefiting from the strong occupier market, which is attracting the interest of major international tenants.

H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.

Esteban Caja Samboal, principal at H.I.G. Europe Realty Partners in Madrid, added, “Spai