HIG Realty Partners acquires the industrial portfolio of Saugus Station | News


LOS ANGELES – (BUSINESS WIRE) – January 6, 2022–

HIG Capital (“HIG”), one of the world’s leading alternative investment firms with more than $ 45 billion in equity under management, is pleased to announce that its subsidiary, HIG Realty Partners, has completed the off-market acquisition of the Saugus Station (“Saugus Station”) industrial portfolio, located in Santa Clarita, California. Saugus Station consists of 24 buildings totaling approximately one million square feet on a 70-acre campus, as well as an adjacent 24-acre fully horizontally improved industrial development parcel.

The Saugus station is 100% leased to tenants operating primarily in the film, television, entertainment and content production industry, and is located in the larger industrial market of the San Fernando Valley. The San Fernando Valley reached an industrial vacancy rate of 1.1% in the third quarter of 2021 and has experienced annual rental growth of 5.2% over the past five years, with a minimum new supply under construction. Saugus Station will provide HIG with attractive current cash returns, as well as an upside via a value-added business plan that is well positioned to benefit from the rapid expansion of film and television content production in the Los MSA. Angeles.

“The acquisition of Saugus Station provides HIG with a unique opportunity to capitalize on a limited market in terms of supplying entertainment and content production warehouse space,” said David Hirschberg, Co-Head of HIG Realty Partners . “HIG will use its value-added expertise to dramatically improve portfolio cash flow. “

“With Los Angeles sound stages operating at full capacity and a limited industrial inventory to house production equipment, sets and props, we believe Saugus Station presents a very attractive investment opportunity,” said Adam Belfer, director of HIG Realty Partners. “We look forward to executing our investment plan to reposition Saugus Station as a premier logistics facility that will serve both entertainment industry-focused tenants and local tenants in Santa Clarita and the great Los Angeles. “

About HIG Realty Partners

HIG Realty Partners is the real estate platform of HIG Capital, a leading global alternative asset investment firm with over $ 45 billion in equity under management. * HIG Realty Partners manages $ 8.4 billion assets and focuses on small and mid-cap real estate, targeting both equity and debt investments in all types of properties located in the United States, Europe and Latin America. Equity investments are focused on acquiring value-added assets, using a practical, operations-oriented approach that seeks to generate substantial cash flow and asset appreciation by rehabilitating, redeveloping, repositioning and by renaming assets that have lacked capital and / or poorly managed. Debt investments include senior bridge loans, mezzanine loans and preferred shares secured by properties and bridging portfolios. For more information, please visit the HIG website www.higcapital.com.

About HIG Capital

HIG is a leading global alternative asset investment firm with over $ 45 billion in equity under management. * Headquartered in Miami and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing debt and equity capital specific to small and medium-sized enterprises, using a flexible and operations-oriented strategy / value-added approach:

  1. HIG’s equity funds invest in executive buyouts, recapitalizations and company exclusions of both profitable and underperforming manufacturing and service companies.
  2. HIG Debt Funds invest in senior, unitranche and junior debt financing to companies of all sizes, both on a primary basis (direct origination) as well as in secondary markets. HIG is also a primary manager of CLO, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.
  3. HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. HIG Infrastructure focuses on making value-added and core-plus investments in the infrastructure sector.

Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit the HIG website at www.higcapital.com.

* Based on total capital commitments managed by HIG Capital and its subsidiaries.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220105005970/en/

CONTACT: David S. Hirschberg

General manager

[email protected]

Ira Weidhorn

General manager

[email protected]

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: RESIDENTIAL EQUIPMENT BUILDING AND REAL ESTATE COMMERCIAL AND REAL ESTATE BUILDING CONSTRUCTION AND PROPERTY TECHNOLOGY FINANCE BANKING GENERAL ENTERTAINMENT PROFESSIONAL SERVICES URBAN PLANNING SOFTWARE INTERIOR DESIGN ENTERTAINMENT ARCHITECTURE AND PROPERTY OTHER

SOURCE: HIG Realty Partners

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PUB: 06/01/2022 06: 00 / DISC: 06/01/2022 06:02

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