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HIG Capital Buys ‘Plaza Éboli’ Shopping Centre For €30M

24 June 2015 – Expansión

This purchase represents HIG Capital’s eighteenth investment in Europe since early 2013 and its fifth in Spain. The private equity fund is based in Miami. 

The private equity fund HIG Capital has acquired the Plaza Éboli shopping centre in the Madrilenian suburb of Pinto…from the venture capital firm Doughty Hanson.

The company has not revealed the consideration paid, but reports say it amounted to €30 million.

The shopping centre, which opened in 2005, has a surface area of more than 31,000 m2 and its tenants include large retail distributors, such as Inditex, H&M, C&A and Cortefiel.

HIG is continuing to expand its exceptional portfolio of real estate assets in Europe, which span both financing and capital contributions. It places a special emphasis on opportunities in small- and medium-sized companies, its target market.

HIG’s Director, Ahmed Hamdani, says that the purchase of the Plaza Éboli shopping centre “demonstrates” the company’s capacity to “identify assets with strong growth potential” and to close “complex acquisitions” in short time frames. (…)

Since it was founded in 1993, HIG has invested and managed more than 200 companies all over the world. The firm’s current portfolio comprises 80 companies with aggregate annual revenues of more than €22,000 million.

Original story: Expansión (by M. L. Verbo)

Translation: Carmel Drake