Investment group HIG Capital has bought 430 apartments in Valle Romano, west Estepona, in a deal said to be worth €32 million.
The total size of the acquisition amounts to some 46,000 square metres and comes with a restaurant, swimming pools, a gym and padel courts. The purchase also includes 390 garage spaces, store rooms and 12 business premises, a source close to the transaction revealed.
Investments in Spain are forecast to be high this year after a staggering €2.15 billion was invested in Spanish hotels alone last year. International investors are keen to get into the Spanish markets and those that are already in Spain are expected to increase their portfolios in 2017.
This latest purchase is HIG’s seventh investment in Spain in the last three years. Spain is “a key area for our European strategy”, said managing director of HIG in London, Riccardo Dallolio.
The investment group will continue to search for small and medium investment opportunities in Spain to increase the company’s presence in the market, he said.
Tags: Estepona Property Deal, Invest in Spain