Investment firm HIG Capital has acquired another storage centre in Northern Greece as it seeks to create one of the largest logistics groups in Southeast Europe.
The purchase follows HIG Capital’s acquisition of 300,000m² (c. 3.2 million ft²) at Aspropyrgos for the construction of a 150,000m² (1.6m ft²) logistics centre, an investment of €250m (£214m).
HIG Capital’s purchase aims to render Greece a distribution centre for the whole of Europe, and particularly Germany, for products of large companies from Asia, but also other countries, such as the US and Turkey.
In July, HIG Capital announced the purchase of three hotels costing €200m (£171m) in Crete, with another five purchased on the mainland.
According to Inventio, the firm’s exclusive partner in Greece, HIG Capital is already in advanced discussions to acquire five hotels.
Inventio managing director Konstantinos Bitros said: “Our goal for Greece is to create a portfolio of luxury hotels with a capacity of 6,000 rooms, while for Europe we aim to develop a collection of 10,000 rooms.”
The Florida-based equity firm already has nine hotels in its Greek portfolio, adding to the storage centre purchases amounting to a total investment of nearly €1bn (£860m) in the region.