H.I.G. Capital News
David S. Hirschberg
H.I.G. Realty Partners
600 Fifth Avenue
New York, NY 10020
H.I.G. Realty Partners Acquires Distribution Center in Atlanta Suburb
NEW YORK – September 20, 2016 – H.I.G. Capital ("H.I.G."), a leading global private equity and alternative asset investment firm with more than $20 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, has completed the acquisition of the Newnan Distribution Center. The property is a 1.9 million square foot industrial/distribution facility in Newnan, GA, a submarket south of the Atlanta International Airport. The property had been vacant ever since operations were discontinued by the corporate seller in early 2015; however, concurrent with the acquisition of the property, H.I.G. has executed a 1.4 million square foot lease with a new corporate tenant.
“The Newnan Distribution Center represents a unique opportunity to acquire a large, strategically located, vacant property that we were able to successfully lease-up during our due diligence period. This is a good example of our value-added approach which has allowed us to generate attractive returns on a consistent basis,” said David Hirschberg, Co-Head of H.I.G. Realty Partners.
Constructed in 1978 and renovated in 2001, the Newnan Distribution Center is one of the largest industrial properties in Georgia. The South Atlanta industrial submarket is over 90% occupied, with major tenants nearby including Google, Amazon, Lowe’s, Clorox, Smuckers, SC Johnson, Nestle Purina, Proctor & Gamble, Kraft, and Kia Motors.
About H.I.G. Realty Partners
H.I.G. Realty Partners is the real estate platform of H.I.G., managing $1.4 billion in capital commitments focused on small-to-mid cap real estate assets across property types located in the U.S. and Europe. H.I.G. Realty Partners targets the acquisition of value-add investments, 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.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $20 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 and Rio de Janeiro, 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:
- 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.
- 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.
- 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 200 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.