• November 14, 2022
  • North America

H.I.G. Realty Credit Partners Originates $72 Million Loan Secured by a 5,000-Unit Self-Storage Portfolio

NEW YORK – November 10, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $52 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Credit Partners, has originated a loan to assist Mini Mall Storage Properties in the acquisition of a 5,000-unit self-storage portfolio located in three states across the Southeast.

The loan was made to Mini Mall Storage Properties, a North American self-storage owner-operator. The acquired portfolio has experienced near-stabilized occupancies due to the quality of its product and its high barrier to entry locations, providing steady, in-place cash flow. The seller is in the process of expanding its portfolio, and is nearing completion of 600 new units, which are predominately climate controlled. Mini Mall Storage Properties plans to lease up these additional units post acquisition.

“We are pleased to partner with H.I.G. Realty Credit Partners as we continue to scale and grow our self-storage business,” said Adam Villard, Chief Executive Officer at Mini Mall Storage Properties. “We see many strategic opportunities across the U.S. to consolidate this fragmented industry and are looking forward to working with H.I.G. as we execute on our robust acquisition plans.”

“We are excited about this unique opportunity to finance an asset class with such strong fundamentals,” said Michael Mestel, Managing Director at H.I.G. Realty Credit Partners.

About H.I.G. Realty Credit Partners

H.I.G. Realty Credit Partners is the real estate debt platform of H.I.G. Capital, a leading global alternative assets investment firm with $52 billion of equity capital under management. H.I.G. Realty Credit Partners has completed debt investments with a gross asset value of over $3 billion, including multifamily, logistics, self-storage, office and hospitality. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. H.I.G. Realty Credit Partners employs a hands-on, operationally focused approach that seeks to generate substantial current income and strong downside protection through creative and thoughtful deal structure, combined with detailed, intensive, bottoms-up underwriting. For more information, please refer to the H.I.G. website www.hig.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $52 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, Rio de Janeiro and São Paulo, 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:

  1. 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.
  2. 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.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 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.hig.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Michael Mestel
Managing Director

Steven Schwartz
Managing Director

H.I.G. Realty Credit Partners
1271 Avenue of the Americas
22nd Floor
New York, NY 10020
P 212.506.0500
F 212.506.0559