H.I.G. Capital, a global alternative investment firm with over $45 billion in equity under management, has acquired Saugus Station industrial portfolio through its affiliate H.I.G. Realty Partners.
Saugus Station includes 24 buildings adding up to nearly one million square feet across a 70 acre campus with an additional 24 acre adjacent industrial development parcel. The property is 100% leased out to tenants in the film, television, entertainment and content production industry.
“The acquisition of Saugus Station provides H.I.G. with a unique opportunity to capitalize on a supply constrained market for entertainment and content production warehouse space,” said David Hirschberg, co-head of H.I.G. Realty Partners. “H.I.G. will employ its value-add expertise to significantly enhance the portfolio’s cash flow.”
“With Los Angeles soundstages operating at full capacity and limited industrial inventory to house production equipment, sets, and props, we believe Saugus Station presents a very compelling investment opportunity,” said Adam Belfer, principal of H.I.G. Realty Partners. “We look forward to implementing our capital plan to reposition Saugus Station into a best-in-class logistics facility that will serve both entertainment industry-focused and also local tenants in Santa Clarita and throughout greater Los Angeles.”