LOS ANGELES – (BUSINESS WIRE) – 6.1.2022–
HIG Capital (“HIG”), a leading global alternative investment firm with over 45 billion assets under management, “Saugus Station”) based in Santa Clarita, California. The Saugus Station consists of 24 buildings totaling approximately 1 million square feet on a 70 acre campus and an adjacent 24 acre fully horizontally upgraded industrial development site.
The Saugus Station is 100% leased to tenants primarily in the film, television, entertainment and content production industries and is part of the wider San Fernando Valley industrial market. The San Fernando Valley achieved an industrial vacancy rate of 1.1% in the third quarter of 2021 and has seen annual rental growth of 5.2% over the past five years with minimal new build under construction. The Saugus Station will provide HIG with attractive cash-on-cash returns and uptrend through a value-added business plan well positioned to capitalize on the rapid expansion of film and television production in the Los Angeles MSA.
“The acquisition of Saugus Station offers HIG a unique opportunity to capitalize on a market with limited space for entertainment and content production,” said David Hirschberg, co-head of HIG Realty Partners. “HIG will use its value-add expertise to significantly increase the portfolio’s cash flow.”
“With the Los Angeles soundstage at full capacity and limited industrial inventory to house production equipment, sets and props, we believe the Saugus Station is a very compelling investment opportunity,” said Adam Belfer, Principal of HIG Realty Partners. “We look forward to implementing our capital plan to reposition the Saugus Station into a world-class logistics facility that will serve both the entertainment industry and local tenants in Santa Clarita and throughout the greater Los Angeles area.”
About HIG Realty Partner
HIG Realty Partners is the real estate platform of HIG Capital, a leading global alternative investment firm with over $ 45 billion in equity under management. * HIG Realty Partners has $ 8.4 billion under management and is focused on small- to mid-cap properties, targets both equity and debt investments in all property types in the US, Europe and Latin America. Equity investments focus on acquiring value adding assets, taking a hands-on, operationally focused approach that seeks to generate significant cash flow and appreciation through remediation, redevelopment, repositioning and renaming of assets that have been under capital and / or deficient succeeded in achieving it. Debt investments include senior bridging loans, mezzanine loans, and preferred stocks backed by transitional properties and portfolios. For more information, please visit the HIG website www.higcapital.com.
About HIG Capital
HIG is a leading global alternative 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 branches in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing small and medium-sized companies with both debt and equity, with a flexible and operationally focused / value-oriented -additional approach:
- HIG’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable and underperforming manufacturing and service companies.
- HIG’s Debt Funds invest in senior, unitranche and junior debt financing for companies of all sizes, both on a primary basis (direct origination) and in secondary markets. HIG is also a senior CLO manager through its WhiteHorse family of vehicles and manages a publicly traded BDC, WhiteHorse Finance.
- HIG real estate funds invest in value-adding real estate that can benefit from improved asset management.
- HIG Infrastructure focuses on value-add and core-plus investments in the infrastructure sector.
Since its inception in 1993, HIG has invested and managed more than 300 companies worldwide. The company’s current portfolio includes more than 100 companies with total sales in excess of $ 30 billion. For more information, please visit the HIG website at www.higcapital.com.
* Based on total capital commitments managed by HIG Capital and affiliates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005970/en/
CONTACT: David S. Hirschberg
managing Director
Ira Weidhorn
managing Director
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: HARDWARE RESIDENTIAL CONSTRUCTION & REAL ESTATE COMMERCIAL CONSTRUCTION & REAL ESTATE & REAL ESTATE TECHNOLOGY FINANCE BANKS GENERAL ENTERTAINMENT PROFESSIONAL SERVICES URBAN PLANNING SOFTWARE INTERIOR DESIGN ENTERTAINMENT ARCHITECTURE
SOURCE: HIG Realty Partners
Copyright Business Wire 2022.
PUB: 06/01/2022 06:00 / DISC: 06/01/2022 06:02
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Copyright Business Wire 2022.
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