H.I.G. closes $593M RE investment fund

Los Angeles /
May.May 11, 2017 08:30 AM

H.I.G. Realty Partners, one of the new owners of Downtown L.A.’s Garland Center, is sitting on a lot of dry powder.

The firm has raised $593 million from investors for a fund focused on value-add deals, surpassing its hard cap of $500 million. Contributors include the fund’s general partner and H.I.G. Realty, a co-investment vehicle that put down $52 million.

So far, the fund, headed by Sami Mnaymneh and Tony Tamer, has acquired eight assets, Commercial Property Executive reported. Last year, it plopped down $210 million alongside Silverpeak Real Estate Partners and Rising Realty Partners to buy the Garland Center.

Those assets account for just 20 percent of the capital commitments the firm has received.  [CPE]Cathaleen Chen


Related Articles

arrow_forward_ios
Red Oak Investments' Alex Wong and A-1 Trailer Park (Google Maps, Red Oak)
Presto on PCH: apartment developer plans to make trailer park disappear
Presto on PCH: apartment developer plans to make trailer park disappear
The portion of land with renderings of proposed development (LoopNet)
6 percent of Bel Air on discount
6 percent of Bel Air on discount
600 East Broadway (SRS)
$43M price check at Vons supermarket in Long Beach
$43M price check at Vons supermarket in Long Beach
Lone Star Funds founder John Grayken and Westin LAX (Lone Star, Marriott)
Price revealed: Lone Star paid $71M for Westin LAX
Price revealed: Lone Star paid $71M for Westin LAX
CGI+ CEO Gidi Cohen and 5200 South J Street in Oxnard CA (CGI+, Google Maps)
CGI+ buys Ventura County apartment complex
CGI+ buys Ventura County apartment complex
Madison Realty Capital extends LA push with $91M loan
Madison Realty Capital extends LA push with $91M loan
Madison Realty Capital extends LA push with $91M loan
Anti-drone specialist takes 100K sf warehouse in Torrance
Anti-drone specialist takes 100K sf warehouse in Torrance
Anti-drone specialist takes 100K sf warehouse in Torrance
67k sf warehouse in works for Pacoima
67k sf warehouse in works for Pacoima
67k sf warehouse in works for Pacoima
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...