HIG Capital acquires Spanish shopping centre
Bayside Capital, a credit affiliate of HIG Capital, has acquired Parque Ceuta, a 14,736 square metre shopping centre in the city of Ceuta, a Spanish enclave located on the northern coast of Africa.
The shopping centre was part of the Windermere-VII Securitization.
Ahmed Hamdani, managing director at Bayside Capital, says: “We are delighted with the acquisition of this high quality asset that has proven its outstanding performance across the business cycle. We are very excited about the opportunities in the Spanish real estate market and this transaction demonstrates HIG’s continued commitment to investing in Spain and to growing its European Real Estate and NPL business further.”
In addition, Bayside Capital has provided mezzanine debt financing to a 70,000 square metre shopping centre in Madrid, Spain. The identity of the property and the borrower were not disclosed.
Ahmed Hamdani, managing director at Bayside Capital, says: “This transaction is an example of HIG working with borrowers and their existing lenders to provide a solution to over-levered capital structures. The transaction was closed in a very short period of time, demonstrating HIG’s ability to deliver complex solutions in a tight time frame.”
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