HIG Realty Partners Launches $ 100 Million Loan Secured by Brand New 444 Unit Apartment Complex | Business

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NEW YORK – (BUSINESS WIRE) – July 7, 2021–

HIG Capital (“HIG”), one of the world’s leading alternative investment firms with $ 44 billion in equity under management, is pleased to announce that its subsidiary, HIG Realty Partners, has provided a loan to finance the remainder of the construction and rental of The Pointe on Westshore (the “Property”), a newly developed 444 unit apartment complex located along West Shore Boulevard in South Tampa, Florida. The property is being completed in phases, with the first phase already accepting tenant moves, and is expected to be completed by fall 2021.

The loan was made to Index Investment Group, an established local developer and operator (the “Sponsor”). The Developer acquired the vacant site in 2016 and began construction in 2019.

“We are delighted to finance a premier property located in one of Tampa, Florida’s most desirable submarkets,” said Michael Mestel, Managing Director of HIG Realty Partners. He added: “The sponsor has built a terrific property, and we are confident it will be well received by the market.”

“The HIG team was professional and easy to work with, without any surprises, from term sheet to closing,” said Bjarne Borg, Chairman and CEO of Index Investment Group.

About HIG Realty Partners

HIG Realty Partners is the real estate platform of HIG Capital, a leading global alternative asset investment firm with $ 44 billion in equity under management. * HIG Realty Partners manages $ 8.2 billion of 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, 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 lacked capital and / or poorly managed. For more information, please visit the HIG website www.higcapital.com.

About HIG Capital

HIG is a leading global alternative asset investment firm with $ 44 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, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing debt and equity capital to small and medium-sized enterprises, using an added approach:

  1. HIG’s equity funds invest in management buyouts, recapitalizations and company exclusions of profitable and underperforming manufacturing and service companies.
  2. 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.
  3. HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

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 the HIG website at www.higcapital.com.

* Based on total capital commitments managed by HIG Capital and its subsidiaries.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210707005063/en/

CONTACT: Michel Mestel

General manager

[email protected]

Jeff wiseman

General manager

[email protected]

KEYWORD: FLORIDA MICHIGAN UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: ARCHITECTURE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE FINANCING BANKING PROFESSIONAL SERVICES OTHERS CONSTRUCTION & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: HIG Realty Partners

Copyright Business Wire 2021.

PUB: 07/07/2021 6:00 a.m. / DISC: 07/07/2021 6:02 a.m.

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