HIG Realty Credit Partners Launches $67 Million Loan Secured by 314-Unit Multifamily Property in Charlotte, NC | Company
NEW YORK–(BUSINESS WIRE)–Nov. 14, 2022–
HIG Capital (“HIG”), a leading global alternative investment firm with $52 billion in equity under management, is pleased to announce that its subsidiary, HIG Realty Credit Partners, has issued a loan totaling $67 million dollars secured by a 314-unit multifamily property in Charlotte, North Carolina.
The loan was made to Panorama Holdings (“Panorama”), an experienced Charlotte-based landlord and developer, who developed the property and completed leasing in late 2021. The property directly serves the high-growth employment sector of the University town. sub-market and benefits from its close proximity to the Lynx Blue Line which connects it to the greater Charlotte area.
“We are delighted to finance this brand new, high quality asset in the Charlotte MSA. Panorama has developed an excellent product that has been well received by the market, and we are delighted to support this project,” said Michael Mestel, Managing Director of HIG Realty Credit Partners.
About HIG Realty Credit Partners
HIG Realty Credit Partners is the real estate debt platform of HIG Capital, one of the world’s leading alternative asset investment firms with $52 billion in equity under management. HIG Realty Credit Partners has made debt investments with a gross asset value of over $3 billion, including multifamily, logistics, self-storage, office and hospitality. Debt investments include senior bridge loans, mezzanine loans and preferred shares secured by properties and bridging portfolios. HIG Realty Credit Partners employs a hands-on, operations-focused approach that seeks to generate substantial current income and strong downside protection through a creative and thoughtful transaction structure, combined with detailed, intensive, bottom-up underwriting. For more information, please visit HIG’s website www.higcapital.com.
About HIG Capital
HIG is a leading global alternative asset investment firm with $52 billion in equity under management. * Based in Miami and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing debt and equity capital to small and medium-sized enterprises, using a flexible and operations/value-oriented system. added approach:
- HIG’s equity funds invest in management buyouts, recapitalizations and spin-offs of profitable and underperforming manufacturing and service companies.
- HIG’s debt funds invest in senior, unitranche and junior debt financing of companies of all sizes, both on a primary (direct origination) basis and in the secondary markets. HIG is also a leading CLO manager, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.
- HIG’s real estate funds invest in value-added properties, which can benefit from better asset management practices.
- HIG Infrastructure is focused on making value-added and more grassroots investments in the infrastructure sector.
Since its inception in 1993, HIG has invested in and managed over 300 companies worldwide. The company’s current portfolio includes more than 100 companies with combined sales exceeding $30 billion. For more information, please visit HIG’s website at www.higcapital.com.
* Based on total capital commitments managed by HIG Capital and its subsidiaries.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20221114005196/en/
CONTACT: Michel Mestel
[email protected] Schwartz
KEYWORD: UNITED STATES NORTH AMERICA CANADA NORTH CAROLINA NEW YORK
INDUSTRY KEYWORD: RAILWAY OTHER PROFESSIONAL SERVICES TRANSPORT URBAN PLANNING FAMILY FINANCE REIT LANDSCAPE BUILDING SYSTEMS BANKING INTERIOR DESIGN CONSUMER OTHER BUILDING & REAL ESTATE PROFESSIONAL SERVICES ARCHITECTURE RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE BUILDING & REAL ESTATE PUBLIC TRANSPORT
SOURCE: HIG Mortgage Partners
Copyright BusinessWire 2022.
PUBLISHED: 14/11/2022 06:00 / DISK: 14/11/2022 06:02
Copyright BusinessWire 2022.