H.I.G. makes first Brazilian residential investment

H.I.G. Capital has partnered with Tecnisa S.A., a publicly traded Brazilian homebuilder in a joint venture to develop for-sale residential projects in Brazil.

Financial terms were not disclosed.

Tecnisa has developed more than 7.2 million square meters (77.5 square feet) across Brazil. The partnership will initially be comprised of projects in the city of São Paulo, Brazil.

“We are excited to make our first investment in the Brazilian residential market, partnering with an experienced developer such as Tecnisa,” said Daniel Nader, head of H.I.G. Realty in Brazil. “The residential asset class is set to benefit from Brazil’s economic recovery, and we believe the projects under the joint venture are well located and are positioned to perform well. We look forward to working with Tecnisa in the coming years.”