H.I.G. Capital Acquires Industrial, Flex Portfolio in New York Area for $487M

by Taylor Williams

NEW YORK — An affiliate of Miami-based H.I.G Capital, which has offices in the United States, Europe and South America, has acquired a portfolio of industrial and flex assets located throughout the New York City metropolitan area for $487 million. The portfolio spans approximately 3.1 million square feet, comprises 56 properties and is leased to about 260 tenants across a diverse range of industries. With this transaction, H.I.G. Capital now has more than $30 billion of assets under management. Jose Cruz, Marc Duval, Jordan Avanzato, Kevin O’Hearn, Andrew Scandalios, Stephen Simonelli and Michael Oliver of HFF represented the seller, Mack-Cali Realty Corp., in the transaction. In addition, Mike Tepedino, Peter Rotchford, Scott Findlay and Jackie Ferrer of HFF arranged $400 million in floating-rate acquisition financing through Bank of America for the deal.

 

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