H.I.G. Capital has acquired Portopiccolo, a state-of-the-art, self-contained luxury complex near Venice which includes 203 high-end residential apartment units, a five-star hotel with a spa, and 110 marina berths. Terms of the transaction were not disclosed.
Riccardo Dallolio, managing director and head of H.I.G. Realty Partners Europe, said, “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/mid-cap sector across the capital structure.”
Gabriele Magotti, managing director at H.I.G. Realty Partners Europe 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.”
