H.I.G. Capital News

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David S. Hirschberg
Managing Director
dhirschberg@higrealty.com

Ira Weidhorn
Managing Director
iweidhorn@higrealty.com

H.I.G. Realty Partners
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New York, NY 10020
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H.I.G. Realty Partners Acquires Hyatt Regency Hotel in Indianapolis and Multifamily Property in Atlanta

NEW YORK – May 6, 2015 – H.I.G. Realty Partners (“H.I.G. Realty”), a leading fund manager in the small-to-mid cap real estate sector, announced today that its affiliate has acquired the Hyatt Regency Hotel in Indianapolis, Indiana (the “Hyatt Indianapolis”). The Hyatt Indianapolis features 499 newly redesigned guest rooms and amenities, including 35,000 square feet of meeting space, four food and beverage outlets, the Regency Club, a state-of-the-art fitness center and an indoor swimming pool. H.I.G. Realty expects to add value through the implementation of a significant capital improvement plan, as well as the installation of a highly-incentivized management team. The Hyatt Indianapolis is at the center of the city’s leisure attractions and corporate concentration and offers a convenient climate controlled skywalk access to leading demand generators including the Indiana Convention Center, Lucas Oil Stadium, Circle Centre Mall, Bankers Life Fieldhouse and Victory Field. It also benefits from the built-in corporate demand provided by the adjoining 650,200 square foot office towers in the PNC Center. The Hyatt Indianapolis represents H.I.G. Realty’s ninth hotel acquisition in the U.S.

In addition, H.I.G. Realty acquired Plantation Ridge in Atlanta, Georgia. Plantation Ridge is a 218 unit multifamily property which is a continuation of H.I.G. Realty’s workforce housing programmatic strategy. H.I.G. Realty expects to add value through the implementation of a unit and common area upgrade program in order to bring below-market rents to market levels. H.I.G. Realty has acquired and/or developed approximately 10,000 multifamily and student housing units in 17 investments across the U.S.

About H.I.G. Realty Partners
H.I.G. Realty is the real estate platform of H.I.G. Capital, LLC (“H.I.G.”), managing $1.3 billion in opportunistic investments in small-to-mid cap real estate assets across property types located in the U.S. and Europe. In the U.S., H.I.G. Realty has committed approximately $600 million of equity capital in 37 real estate investments across the asset class spectrum (investments comprised of multifamily, hotel, office, medical office, condominium, industrial, mixed use, retail, student housing and affordable housing). H.I.G. Realty targets the acquisition of value-add investments, employing a hands-on, operationally focused approach that seeks to generate substantial cash flow and asset appreciation through rehabilitating, redeveloping, repositioning and rebranding assets that have been capital starved and/or poorly managed.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. Other H.I.G. funds invest in various real assets, including real estate and shipping.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.