NEW YORK – (BUSINESS WIRE) – Jan. August 2021–
HIG Capital (“HIG”), a leading global alternative investment company with equity under management of 45 billion 6605 Grand Montecito Parkway, upon successful completion of the business plan on each property.
In Spanish Ridge, HIG Realty pursued a value-add strategy and rented the property 100% (from 56% upon acquisition) to a diversified portfolio of high-quality tenants. At Montecito, HIG Realty significantly reduced its investment prior to the takeover by extending the anchor tenant’s lease by seven years, generating significant value in the process.
“The Spanish Ridge and Montecito realizations reflect HIG Realty’s ability to identify undervalued and mismanaged assets, mitigate risk during due diligence and implement a value-adding game plan,” said David Hirschberg, co-head of HIG Realty Partners.
About HIG Realty Partner
HIG Realty Partners is the real estate platform of HIG Capital, a leading global private equity and alternative asset investment firm with 45 billion real estate under management, targeting both equity and debt investments in all property types in the US, Europe and Latin America. 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. Debt investments include senior bridging loans, mezzanine loans, and preferred stocks backed by transitional properties and portfolios. For more information, please visit the HIG website www.higcapital.com.
About HIG Capital
HIG is a leading global private equity and alternative asset 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 USA, as well as international branches in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG is on the provision of debt and equity for small and medium-sized companies with a flexible and operationally focused / value-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 basis (direct origination) and in the 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.
* Based on total capital commitments managed by HIG Capital and affiliates.
View source version on businesswire.com: https: //www.businesswire.com/news/home/20210818005100/en/
CONTACT: David S. Hirschberg
Managing Director
dhirschberg@higrealty.comIra Weidhorn
Managing Director
iweidhorn@higrealty.com
KEYWORD: UNITED STATES NORTH AMERICA CANADA NEVADA NEW YORK
INDUSTRY KEY: COMMERCIAL & REAL ESTATE & REAL ESTATE FINANCING BANKS REIT PROFESSIONAL SERVICES ARCHITECTURE OTHER CONSTRUCTION & REAL ESTATE RESIDENTIAL CONSTRUCTION & REAL ESTATE
SOURCE: HIG Capital
Copyright Business Wire 2021.
PUB: 8/18/2021 6:00 AM / DISC: 8/18/2021 6:02 AM
http://www.businesswire.com/news/home/20210818005100/en
Copyright Business Wire 2021.
