Bayside Capital has acquired the Hilton London Docklands in the UK. Financial terms of the transaction were not disclosed. The credit affiliate of H.I.G. Capital purchased the 378-room hotel from Pandox AB. H.I.G. has been actively looking for investment opportunities in European real estate for the past 12 months, reports say. It has already bought several assets in the UK, Spain and the Netherlands.
Bayside Capital Managing Director Ahmed Hamdani said in the statement, "We are thrilled with this acquisition and see significant potential to improve this asset through additional investment. We are very excited about the opportunities in the European hotel market in general and this transaction demonstrates H.I.G.'s ability to execute on complex operational assets. We are committed to growing our European Real Estate business further."
Miami-based H.I.G. Capital has over $13 billion of equity capital under management.