H.I.G. Realty Partners Lends $33.1 Million on Denver Metro Industrial/Flex Office Portfolio
NEW YORK – February 6, 2020 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $35 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, provided a $33.1 million acquisition loan to CW Capital Partners on a 264,000 square foot industrial/flex office portfolio. The portfolio, comprised of three properties, is located in the high growth metropolitan area of Denver, Colorado. At the time of acquisition, the portfolio was approximately 80% occupied by a diverse group of tenants. The floating-rate, five-year loan allows for future advances for the lease-up of the portfolio over time.
“CW Capital can capitalize on this excellent investment opportunity through rental increases and the lease-up of the portfolio in a market that has favorable supply-demand characteristics,” said Michael Mestel, Head of U.S. Debt Originations for H.I.G. Realty Partners. “H.I.G. was able to provide the capital and flexibility for CW to succeed in executing their strategy.”
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 over $35 billion of equity capital under management,* and manages $2.6 billion in capital commitments focused on small-to-mid cap real estate assets. H.I.G. Realty Partners targets both equity and debt investments across all property types located throughout the U.S. and Europe. 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.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.