H.I.G. Capital announced that its affiliate, H.I.G. Realty Partners, has originated a loan to finance the lease-up of 3880 N. Mission (the “Property”), a 39-acre, 1.5 million square foot site with 1.2 million square feet of distribution and warehouse space located 4 miles northeast of downtown Los Angeles, California.

The loan was made to a joint venture between entities owned by Blackstone and Worth Real Estate Group, a pre-eminent local developer and operator (collectively, the “Sponsor”).

“We are excited about this unique opportunity to finance such attractive last-mile space in an infill location,” said Michael Mestel, Managing Director at H.I.G. Realty Partners. He added, “We are confident the Sponsor will do an excellent job attracting high quality tenants and leasing up the project.”