H.I.G. Capital announced 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 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.”
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.
Source: H.I.G Capital