H.I.G. Realty finalises €1.5b recapitalisation of two platforms

Global alternative investor H.I.G. Capital has refinanced two of its key platforms, Ella Resorts and OB Streem.

Ella Rhodes Beach

The transaction was led and underwritten by the Bank of Piraeus, with participation from a consortium of prominent European financial institutions.

The recapitalisation, totalling $1.6bn (€1.48bn), is designed to provide an efficient capital structure to fuel the next phase of growth for both the hospitality and logistics sectors. Ella Resorts serves as H.I.G. Realty’s dedicated platform for premium Mediterranean destinations. The current portfolio consists of approximately 4,400 keys, while the plan calls for expansion to 10,000 rooms through a robust acquisition pipeline across Italy, Greece, and Spain. The new funding will support the ongoing refurbishment and strategic repositioning of existing assets to maintain their premium status.

OB Streem is a comprehensive logistics platform providing "mission-critical" infrastructure across essential European trade corridors. It manages over 400,000 m2  of warehousing space, offering a full suite of logistics solutions, including cold and ambient storage, container depot storage (IOS), freight forwarding, and transportation. Plans include the expansion of its infrastructure network and a prospective pier terminal.

By securing this capital, H.I.G. ensures that both platforms are well-positioned for aggressive site acquisitions and infrastructure upgrades over the coming years.

Riccardo Dallolio, managing director and head of H.I.G. Realty in Europe, commented: “The successful completion of these two refinancings represents an important milestone for two of H.I.G. Realty Europe’s key platforms. We remain focused on acquiring and scaling real estate platforms in sectors with strong fundamentals, leveraging our combined real estate and private equity expertise”.

Stelios Theodosiou, managing director at H.I.G. Realty in Europe, added: “With these refinancings completed, Ella and Streem are both entering a new phase of development. Streem continues to strengthen its position and dominance in the local market, while Ella is expanding internationally into Italy and Spain. The strong support from institutional lenders reflects the quality of the platforms we have built, and enables us to continue investing in our assets and expanding in a capital-efficient way”.