NEW YORK – (BUSINESS WIRE) – August 24, 2021
HIG Capital (“HIG”), a leading global $ 45 billion equity investment firm, is pleased to announce that its subsidiary, HIG Realty Partners, has provided a loan to finance the remaining construction and lease of Mark at Denton and The Mark at Weatherford (“Real Estate”), a 316 and 355 apartment complex located in Denton, TX and Weatherford, TX, respectively. The real estate is delivered in stages, with the first apartments already delivered and tenants are accepting. Since the beginning of the lease operation, the real estate has rented out more than 35 apartments per month.
The loan was provided by CPG Development, a local developer and operator (the “Sponsor”). The sponsor acquired the plots in 2019 and 2020 and began construction shortly thereafter.
“We are delighted to fund two best-in-class real estate properties located in some of the fastest growing submarkets in Dallas / Fort Worth, MSA,” said Michael Mestel, Managing Director of HIG Realty Partners. He added: “The sponsor has built two amazing properties and given the rental rate they have been well received by the respective markets.”
About HIG Realty Partners
HIG Realty Partners is the real estate platform of HIG Capital, a leading international alternative asset investment firm with a $ 45 billion share capital management. HIG Realty Partners manages $ 8.2 billion in assets and specializes in small and mid-cap real estate, focusing on both equity and debt investments in all property types located in the US, Europe and Latin America. Debt investments include senior bridging loans, mezzanine loans and preferred shares backed by transition assets and portfolios. Equity investments are focused on acquiring value-added assets using a practical, operations-oriented approach that aims to generate significant cash flow and asset value appreciation through the rehabilitation, redevelopment, repositioning and rebranding of assets that have been undercapitalized and / or poorly behaved felt. succeeded. For more information visit the HIG website. www.higcapital.com…
About HIG Capital
HIG is a leading global alternative asset investment company with equity under management of $ 45 billion. * Based in Miami and also has offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States. as international subsidiaries in London, Hamburg, Madrid, Milan, Paris, Bogota, Rio de Janeiro and São Paulo, HIG specializes in providing both debt and equity capital to small and medium-sized companies using a flexible and operationally oriented / value-based approach … added approach:
- HIG equity funds invest in management buyouts, recapitalizations and corporate unbundling of both profitable and underperforming manufacturing and service businesses.
- HIG Debt Funds invest in senior, unit and junior debt financing for companies of all sizes, both in the primary (direct creation) and secondary markets. HIG is also the lead CLO manager across the WhiteHorse family of vehicles and operates the publicly traded BDC, WhiteHorse Finance.
- HIG Real Estate Funds invest in value-added real estate that can benefit from improved asset management practices.
- HIG Infrastructure focuses on creating added value and core investments in the infrastructure sector.
Since its founding in 1993, HIG has invested and managed over 300 companies around the world. The company’s current portfolio includes over 100 companies with cumulative sales of over $ 30 billion. For more information 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
KEY WORD: UNITED STATES NORTH AMERICA CANADA TEXAS NEW YORK
INDUSTRY KEYWORDS: TECHNOLOGY ARCHITECTURE FINANCING OTHER CONSTRUCTION AND PROPERTY BANK RESIDENTIAL BUILDING AND REAL ESTATE COMMERCIAL BUILDING AND REAL ESTATE PROFESSIONAL SERVICES CONSTRUCTION AND REAL ESTATE
SOURCE: HIG Realty Partners
Copyright by Business Wire 2021.
PUB: 08.24.2021 06:00 / DISC: 08.24.2021 06:01
Copyright by Business Wire 2021.