HIG Realty Partners Launches Loan Secured by Two New MSA Apartment Complexes in Dallas / Fort Worth | Business
NEW YORK – (BUSINESS WIRE) – August 24, 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 provided a loan to finance the construction and remaining leasing of The Mark at Denton and The Mark at Weatherford (the âPropertiesâ), a 316 and 355 unit apartment complex located in Denton, TX and Weatherford, TX, respectively. The properties are being delivered in phases, with the first units already delivered and accepting tenants’ accommodation. The properties have been renting over 35 units per month since the rental efforts began.
The loan was made to CPG Development, an established local developer and operator (the âSponsorâ). The sponsor acquired the sites in 2019 and 2020 and began construction shortly thereafter.
âWe are delighted to fund two premier properties located in some of the fastest growing Dallas / Fort Worth MSA submarkets,â said Michael Mestel, Managing Director of HIG Realty Partners. He added, âThe sponsor has built two great properties and given the pace of rental they are well received in their respective markets. “
About HIG Realty Partners
HIG Realty Partners is the real estate platform for HIG Capital, one of the world’s leading alternative asset investment firms with $ 45 billion in equity under management. HIG Realty Partners manages $ 8.2 billion in assets and focuses on small and mid-cap real estate, targeting both equity and debt investments in all types of properties located in the United States, in Europe and Latin America. Debt investments include senior bridge loans, mezzanine loans and preferred shares secured by properties and bridging portfolios. Equity investments are focused on acquiring value-added assets, using a practical, operations-oriented approach that seeks to generate substantial cash flow and asset appreciation by rehabilitating, redeveloping, repositioning and by renaming assets that have run out of capital and / or poorly managed. For more information, please visit HIG’s website www.higcapital.com.
About HIG Capital
HIG is a leading global alternative asset investment firm with $ 45 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 as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, BogotÃ¡, Rio de Janeiro and SÃ£o Paulo, HIG specializes in providing debt and equity capital to small and medium-sized enterprises, using an added approach:
- HIG’s equity funds invest in management buyouts, recapitalizations and company exclusions of profitable and underperforming manufacturing and service companies.
- HIG Debt Funds invest in senior, unitranche and junior debt financing to companies of all sizes, both on a primary basis (direct origination) as well as in secondary markets. HIG is also a primary manager of CLO, 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 improved asset management practices.
- HIG Infrastructure focuses on making value-added and core plus investments in the infrastructure sector.
Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit HIG’s website at www.higcapital.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210824005103/en/
CONTACT: Michel Mestel
KEYWORD: UNITED STATES NORTH AMERICA CANADA TEXAS NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY ARCHITECTURE FINANCE OTHER BUILDING & REAL ESTATE BANKING RESIDENTIAL & REAL ESTATE BUILDING COMMERCIAL & REAL ESTATE PROFESSIONAL SERVICES BUILDING & REAL ESTATE BUILDING SYSTEMS NETWORKS URBAN DESIGN REIT INTERIOR DESIGN
SOURCE: HIG Realty Partners
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PUB: 08/24/2021 6:00 a.m. / DISC: 08/24/2021 6:01 a.m.
Copyright Business Wire 2021.