H.I.G. Realty Partners said Thursday it sold a 288 unit apartment community in the Houston, Texas suburb of Sugar Land. It did not disclose the buyer or financial terms. H.I.G. Realty is the real estate platform of H.I.G. Capital LLC.
NEW YORK–(BUSINESS WIRE)–H.I.G. Realty Partners (“H.I.G. Realty”), a leading investment firm in the small-to-mid cap real estate sector, announced today that it sold a 288 unit apartment community in the Houston, Texas suburb of Sugar Land. The asset was purchased in December 2012 and H.I.G. implemented a substantial capital improvement program and significantly improved property operations during its ownership period. This transaction represents H.I.G. Realty’s fourth successful realization or partial realization in the last nine months. During the past three years, H.I.G. Realty has acquired and/or developed approximately 7,000 multifamily and student housing units in 13 investments across the U.S.
About H.I.G. Realty Partners
H.I.G. Realty is the real estate platform of H.I.G. Capital, LLC (“H.I.G.”), managing $1.3 billion in opportunistic investments in small-to-mid cap real estate assets across property types located in the U.S. and Europe. In the U.S., H.I.G. Realty has committed approximately $600 million of equity capital in 37 real estate investments across the asset class spectrum (investments comprised of multifamily, hotel, office, medical office, condominium, industrial, mixed use, retail, student housing and affordable housing). H.I.G. Realty 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 $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, 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) Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 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 to funds managed by H.I.G. Capital and its affiliates.