Bayside Capital Announces the Acquisition of Seven Real Estate Assets from IVG
LONDON – September 19, 2014 – Bayside Capital, a credit affiliate of H.I.G. Capital, announced today the acquisition of six office buildings and one shopping centre from IVG Institutional Funds GmbH. The total size of the portfolio amounts to approx. 52.000 sqm with a total purchase price of approximately €70 million.
Ahmed Hamdani, Managing Director in the UK at Bayside Capital said, “We are pleased to make our fifth investment in the Dutch market and to be working with Unifore/DMC in this transaction. We believe the Dutch market presents excellent value and this transaction reflects H.I.G.’s commitment to growing its Continental European real estate and NPL business.”
Sanjoy Chattopadhyay, Principal at Bayside Capital added, “We are pleased to conclude the purchase of this portfolio of well-located properties. Through our specialists in retail and office asset management, the focus of the business plan will be on substantial capital investment to improve occupancy, income and ultimately capital values.”
This is H.I.G. Capital’s 12th real estate investment in Europe since the start of 2013. H.I.G. has assembled a sizeable portfolio of Real Estate assets in Europe and continues to see significant opportunities in that sector, especially in its target market of small/midcap opportunities with a meaningful value-added component.
About Bayside Capital
Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $15 billion of equity capital under management. With over $4.5 billion of committed capital, Bayside is focused on providing capital solutions to address complex situations within short timeframes. Through improved access to capital or facilitating balance sheet realignments, Bayside can help support future strategies and expansion plans. Bayside has the ability to provide capital through a broad range of securities including asset-based and cash flow senior and subordinated debt, equity, debtor-in-possession facilities, and special situation loans. Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position. For more information, please refer to the Bayside Capital website at www.bayside.com.