HIG Capital completes re-development of mixed-use asset in Mannheim, Germany
An affiliate of global private equity firm HIG Capital has acquired and successfully completed the re-development of a mixed use asset totalling approximately 11,500 sq m in the centre of Mannheim, Germany. The asset is now fully pre-let on a long-term basis.
Terms of the deal have not been disclosed.
HIG continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a focus on its target market of value-add small and midcap opportunities.
Riccardo Dallolio, Managing Director and Head of HIG Realty Partners Europe, says: “This is our third investment in Germany in the last two years, and our focus continues to be on delivering highly liquid institutional products as a result of well executed value-add initiatives”.
Tuna Atay, Director at HIG Realty Partners Europe, adds: “This transaction further demonstrates our strong capabilities in Germany and our ability to significantly improve an asset through a proactive refurbishment and leasing strategy.”