Le Lézard
Classified in: Transportation
Subject: Merger/Acquisition

H.I.G. Realty Partners Acquires Huntsville Industrial Asset

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $44 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, has completed the acquisition of a 565,000 square foot industrial distribution facility in Huntsville, AL in an off-market transaction.

The property is 100% leased to a leading global household and bathroom fixture manufacturer and is directly adjacent to both the Huntsville International Airport (one of the largest international air cargo airports in the U.S.) and the Intermodal Center Rail Terminal, providing intrinsic value to the market's base of advanced manufacturing, aviation, defense, and biotech tenants. The property will provide attractive current cash-on-cash returns and an opportunity to create significant additional value through the leasing of excess land to 3PL and e-commerce providers.

"This acquisition represents a continuation of H.I.G. Realty's success at identifying strategically located, cash flowing, off-market industrial opportunities," said David Hirschberg, Co-Head of H.I.G. Realty Partners. "We expect to leverage H.I.G.'s value-add expertise to maximize this property's untapped upside."

"We are excited to own this mission-critical distribution facility at a discount to replacement cost," said Adam Belfer, Principal of H.I.G. Realty Partners. "The property is strategically located to take advantage of significant capital investments being made in the market by both large government tenants and those that will benefit from Huntsville's highly skilled labor pool."

About H.I.G. Realty Partners

H.I.G. Realty Partners is the real estate platform of H.I.G. Capital, a leading global private equity and alternative assets investment firm with $44 billion of equity capital under management. H.I.G. Realty Partners manages $8.2 billion of assets and focuses on small-to-mid cap real estate, targeting both equity and debt investments across all property types located throughout the U.S., Europe, and Latin America. Equity investments are concentrated on the acquisition of value-add assets, 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. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. For more information, please refer to the H.I.G. website www.higcapital.com.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with $44 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.

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