HIG Capital has bought two Portuguese portfolios containing €110m of real estate assets and non-performing loans (NPL) from asset manager Finangeste.
The two portfolios are comprised of 77 real estate assets and 114 secured loans.
The deal is HIG’s seventh acquisition this year and its 21st real estate investment in Europe since the beginning of 2013. The Miami-based private equity firm provides debt and equity to small-to-midcap companies.
In February, it bought a portfolio of around €50m of non-performing loans from Italian bank Group Cassa di Risparmio di Cesena – it’s second NPL investment in Italy.
It also appointed in February a new co-head of European real estate, Riccardo Dallolio, from AXA Real Estate, who shares the role with HIG’s managing director Ahmed Hamdani.
“We continue to acquire undervalued real estate assets and assets where we see an opportunity to add value by enhancing the income and quality of the asset,” said Hamdani.
The company said the latest deal gave it a platform to make further investments in the Portuguese real estate market.