H.I.G. Realty Partners Acquires Large New York Metro Industrial/Flex Portfolio

NEW YORK–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/HomeLeasing?src=hash” target=”_blank”gt;#HomeLeasinglt;/agt;–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.

Contacts

David S. Hirschberg
Managing Director
dhirschberg@higrealty.com

Ira Weidhorn
Managing Director
iweidhorn@higrealty.com
H.I.G.
Realty Partners
P 212.351.5700

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