H.I.G. Realty Credit Partners Originates $75 Million Acquisition Loan Secured by a 185,000 SF Industrial Condo in Jamaica, NY
NEW YORK – April 5, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $55 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Credit Partners, has originated a loan to acquire Terminal Logistics, a newly developed 185,000 SF industrial condominium located adjacent to JFK International Airport.
The loan was made to a joint venture between the Riverside Drive Opportunity Fund (sponsored by Goldman Sachs Asset Management) and Triangle Equities.
“We are excited about the opportunity to finance this brand new, high-quality asset in a submarket with strong fundamentals,” said Michael Mestel, Managing Director at H.I.G. Realty Credit Partners. He added, “We continue to be focused on lending into high quality industrial/logistics assets across the country, which attracted us to this project.”
About H.I.G. Realty Credit Partners
H.I.G. Realty Credit Partners is the real estate lending platform of H.I.G. Capital, a leading global alternative assets investment firm with $55 billion of equity capital under management. H.I.G. Realty Credit Partners originates first-mortgage loans, mezzanine loans and preferred equity investments backed by high-quality, middle market properties across all major real estate asset classes and geographies. It focuses on the markets and cities in the U.S. with favorable macroeconomic dynamics with a particular focus on transitional properties and complex business plans. The approach is a bottoms-up underwriting of both the property and the local market to bring to bear the most flexible and accretive loan structures. H.I.G. Realty Credit Partners has originated over $3 billion of loans across more than 30 investments since its inception. For more information, please refer to the H.I.G. website www.higcapital.com.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $55 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, 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:
- 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.
- 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.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.