H.I.G. Realty Companions Acquires Southern California Logistics Heart

NEW YORK, October 19, 2021–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a number one international various funding agency with over $45 billion of fairness capital underneath administration, is happy to announce that its affiliate, H.I.G. Realty Companions, has accomplished the acquisition of the Southern California Logistics Heart (“SCLC”), a seven property, 2008-2017 classic, 3.4 million sq. foot industrial portfolio positioned on the previous George Air Power Base in Victorville, CA, in an off-market transaction.

SCLC is 100% leased and supplies mission vital logistics assist to tenants within the client merchandise, manufacturing, meals and beverage, and aviation sectors. The portfolio’s sturdy adjoining labor pool and site each immediately north of the Inland Empire area east of Los Angeles (1.4% emptiness charge and 24% yr over yr lease progress) and on the grounds of the Southern California Logistics Airport will proceed to supply intrinsic worth to customers that function throughout the second densest inhabitants cluster within the U.S. SCLC will present H.I.G. with enticing present cash-on-cash returns, in addition to upside by way of a value-add marketing strategy that’s nicely positioned to learn from the optimistic industrial fundamentals within the supply-constrained Los Angeles MSA.

“The acquisition of SCLC is a continuation of H.I.G. Realty’s potential to determine undervalued, strategically positioned, off-market industrial alternatives,” mentioned David Hirschberg, Co-Head of H.I.G. Realty Companions. “H.I.G. will make use of its value-add experience to considerably improve the enticing in-place money movement from a robust roster of tenants which have occupied SCLC for over a decade.”

“We’re excited to personal this mission-critical portfolio at a major low cost to alternative value,” mentioned Adam Belfer, Principal of H.I.G. Realty Companions. “Moreover, in a put up COVID setting, SCLC is nicely positioned to learn from the robust labor pool and enterprise pleasant setting within the Inland Empire North submarket, as evidenced by the latest bulletins of adjoining “construct to swimsuit” developments for well-known client merchandise and e-commerce tenants.”

About H.I.G. Realty Companions
H.I.G. Realty Companions is the true property platform of H.I.G. Capital, a number one international various belongings funding agency with over $45 billion of fairness capital underneath administration. H.I.G. Realty Companions manages $8.4 billion of belongings and focuses on small-to-mid cap actual property, concentrating on each fairness and debt investments throughout all property varieties positioned all through the U.S., Europe, and Latin America. Fairness investments are focused on the acquisition of value-add belongings, using a hands-on, operationally targeted strategy that seeks to generate substantial money movement and asset appreciation by way of rehabilitating, redeveloping, repositioning and rebranding belongings which were capital starved and/or poorly managed. Debt investments embody senior bridge loans, mezzanine loans and most popular fairness collateralized by transitional properties and portfolios. For extra data, please check with the H.I.G. web site www.higcapital.com.

About H.I.G. Capital
H.I.G. is a number one various belongings funding agency with over $45 billion of fairness capital underneath administration.* Primarily based in Miami, and with workplaces in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta within the U.S., in addition to worldwide affiliate workplaces in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. focuses on offering each debt and fairness capital to small and mid-sized corporations, using a versatile and operationally targeted/ value-added strategy:

  1. H.I.G.’s fairness funds spend money on administration buyouts, recapitalizations and company carve-outs of each worthwhile in addition to underperforming manufacturing and repair companies.

  2. H.I.G.’s debt funds spend money on senior, unitranche and junior debt financing to corporations throughout the dimensions spectrum, each on a main (direct origination) foundation, in addition to within the secondary markets. H.I.G. can be a number one CLO supervisor, by way of its WhiteHorse household of autos, and manages a publicly traded BDC, WhiteHorse Finance.

  3. H.I.G.’s actual property funds spend money on value-added properties, which may profit from improved asset administration practices.

  4. H.I.G. Infrastructure focuses on making value-add and core plus investments within the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed greater than 300 corporations worldwide. The agency’s present portfolio consists of greater than 100 corporations with mixed gross sales in extra of $30 billion. For extra data, please check with the H.I.G. web site at www.higcapital.com.

* Primarily based on whole capital commitments managed by H.I.G. Capital and associates.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20211019005393/en/

Contacts

David S. Hirschberg
Managing Director
[email protected]

Ira Weidhorn
Managing Director
[email protected]

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