H.I.G. Capital News
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H.I.G. Capital Completes Purchase of 12 Dutch Light Industrial Real Estate Assets
LONDON - November 8, 2013 – Bayside Capital, a credit affiliate of H.I.G. Capital, announced today the purchase of a portfolio of 12 light industrial properties with a total size of 108,900 square meters. The properties were purchased by MBay Light Industrial, a joint venture established by Bayside Capital in partnership with specialist asset manager M7 Real Estate, which will be targeting high yielding multi-let industrial assets in the Netherlands.
Ahmed Hamdani, Managing Director at Bayside Capital said, “We are excited about the opportunities on offer in the Dutch market and pleased to be partnering with M7 on this strategy. This transaction demonstrates H.I.G.’s continued commitment to the Dutch market and to growing its European Real Estate and NPL business further.”
Sanjoy Chattopadhyay, Director at Bayside Capital said, “The purchase underlines Bayside Capital’s capability to deploy capital in this complex asset class. Our platform has the expertise, systems and funding in place to buy and manage Dutch light industrial efficiently. We are closely monitoring the market to take advantage of similar opportunities when they become available.”
Richard Croft, M7’s Chief Executive said, “This is a hugely important transaction for M7. We see substantial opportunity in the light industrial market in parts of Europe and to create a JV with an organisation such as H.I.G. is very exciting for us.”
About M7 Real Estate
M7 Real Estate is a leading pan European Industrial asset manager, with operations currently in the UK, Denmark and The Netherlands. M7 has four offices and 35 staff.
M7 manages a portfolio of over 200 assets comprising 15,000,000 square feet across the three jurisdictions with a capital value in excess of €600,000,000. Further European expansion into Germany and Central Europe is planned for 2014.
About Bayside Capital
Bayside Capital, an affiliate of H.I.G. Capital, is an investment firm with approximately $4.5 billion under management. Focused on middle-market companies, Bayside Capital invests across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns. With twelve offices throughout the U.S. and Europe and over 250 investment professionals to draw upon, Bayside has the experience, resources, and flexibility to provide capital solutions quickly, and the strategic and operational expertise to help support its investments.
Bayside Capital is active across a wide spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. With the ability to invest in all parts of the capital structure, Bayside is able to develop creative financing solutions and consummate transactions on an expedited basis.
Bayside Capital is a credit affiliate of H.I.G. Capital, a leading global private investment firm with more than $13 billion of equity capital under management. Since its founding in 1993, H.I.G. Capital has invested in more than 200 companies worldwide and has developed an impressive track record for creating value for its partners and investors. For more information, please refer to the Bayside Capital website at www.bayside.com.