H.I.G. Realty Partners Originates Loan Secured by Two New Dallas/Fort Worth MSA Apartment Complexes | News
NEW YORK – (BUSINESS WIRE) – Aug. August 2021–
HIG Capital (“HIG”), a leading global alternative investment firm with $ 45 billion in equity under management, is pleased to announce that its subsidiary, HIG Realty Partners, has received a loan to fund the remaining construction and rental of The Mark at Denton and The Mark at Weatherford (the “Properties”), a 316-unit and 355-unit apartment complex in Denton, TX and Weatherford, TX, respectively. The properties will be delivered in phases, with the first units already being delivered and tenant move-ins being accepted. The properties have been renting over 35 units per month since the rental effort began.
The loan was made to CPG Development, an established local developer and operator (the “Sponsor”). The sponsor acquired the plots in 2019 and 2020 and started construction shortly afterwards.
“We are excited to finance two prime properties in some of the fastest growing Dallas / Fort Worth MSA submarkets,” said Michael Mestel, Managing Director at HIG Realty Partners. He added, “The sponsor has built two great properties and given the pace of rental they are being well received by their respective markets.”
About HIG Realty Partner
HIG Realty Partners is the real estate platform of HIG Capital, a leading global alternative investment firm with $ 45 billion in equity under management. HIG Realty Partners manages $ 8.2 billion in assets and is focused on small to mid-cap real estate with both equity and debt investments in all property types in the US, Europe and Latin America. Debt investments include senior bridging loans, mezzanine loans, and preferred stocks backed by transitional properties and portfolios. Equity investments focus on acquiring value-adding assets, taking a practical, operationally focused approach that aims to deliver significant cash flow and appreciation through remediation, redevelopment, repositioning and renaming of assets that have been poor and / or deficient achieved it. For more information, please visit the HIG website www.higcapital.com.
About HIG Capital
HIG is a leading global alternative investment firm with $ 45 billion in equity under management. * Headquartered in Miami with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States. International offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing small and medium-sized companies with both debt and equity. added approach:
- HIG’s equity funds invest in management buyouts, recapitalizations and corporate carveouts of both profitable and underperforming manufacturing and service companies.
- HIG’s debt funds invest in senior, unitranche and junior debt financing for companies of all sizes, both on a primary (direct issue basis) and secondary markets. HIG is also a senior CLO manager through its WhiteHorse family of vehicles and manages a publicly traded BDC, WhiteHorse Finance.
- HIG real estate funds invest in value-adding real estate that can benefit from improved asset management.
- HIG Infrastructure focuses on value-add and core-plus investments in the infrastructure sector.
Since its inception in 1993, HIG has invested and managed more than 300 companies worldwide. The company’s current portfolio includes more than 100 companies with total sales of over $ 30 billion. For more information, please visit the HIG website at www.higcapital.com.
View source version on businesswire.com: https: //www.businesswire.com/news/home/20210824005103/en/
CONTACT: Michael Mestel
Managing Director
mmestel@higrealty.com
Jeff Wiseman
Managing Director
jwiseman@higrealty.com
KEYWORD: UNITED STATES NORTH AMERICA CANADA TEXAS NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY ARCHITECTURE FINANCING OTHER CONSTRUCTION & REAL ESTATE BANKING RESIDENTIAL CONSTRUCTION & REAL ESTATE COMMERCIAL & REAL ESTATE PROFESSIONAL SERVICES CONSTRUCTION & REAL ESTATE CONSTRUCTION SYSTEMS NETWORKS URBAN PLANNING PLANNING
SOURCE: HIG Realty Partners
Copyright Business Wire 2021.
PUB: 08/24/2021 06:00 am / DISC: 08/24/2021 06:01 am
http://www.businesswire.com/news/home/20210824005103/en
Copyright Business Wire 2021.
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