H.I.G. Realty Partners has acquired an industrial/flex portfolio in the New York metropolitan area. The value of the deal was $487 million.
NEW YORK–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $30 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, has completed the acquisition of an industrial/flex portfolio comprising 3.1 million SF in the New York Metropolitan area (the “Portfolio”). The Portfolio is leased to approximately 260 tenants across a diverse range of industries. The transaction was valued at $487 million.
“The Portfolio represents an opportunity to capitalize on very favorable supply-demand dynamics in the industrial/flex market within the NYC metro region,” said David Hirschberg, Co-Head of H.I.G. Realty Partners. “We look forward to leveraging H.I.G. Realty Partners’ experience in this asset class to facilitate the execution of our value-add business plan.”
About H.I.G. Realty Partners
H.I.G. Realty Partners is the real estate platform of H.I.G., managing $2.6 billion in capital commitments focused on small-to-mid cap real estate assets across property types located in the U.S. and Europe. H.I.G. Realty Partners targets the acquisition of value-add investments, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $30 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.