H.I.G. Capital News
H.I.G. Realty Partners
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H.I.G. Realty Partners Sells Hilton Cocoa Beach Oceanfront Hotel in Cocoa Beach, FL
NEW YORK – June 16, 2016 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce that an affiliate, H.I.G. Realty Partners, (“H.I.G. Realty”) has completed the sale of the 296 room Hilton Cocoa Beach Oceanfront Hotel in Cocoa Beach, FL. H.I.G. Realty implemented an extensive renovation program that addressed all guest rooms and common areas and included the addition of a new oceanfront food and beverage outlet. The net operating income of the hotel tripled during H.I.G. Realty’s ownership. This transaction represents H.I.G. Realty’s fifteenth successful realization or partial realization in the last two years.
“The Hilton Cocoa Beach success story is yet another example of H.I.G. Realty’s ability to identify and execute a value add strategy that resulted in the creation of an enhanced, stabilized income stream,” said Ira Weidhorn, Co-Head of H.I.G. Realty.
About H.I.G. Realty Partners
H.I.G. Realty Partners is the real estate platform of H.I.G., managing $1.4 billion in capital commitments focused on small-to-mid cap real estate assets across property types located in the U.S. and Europe. H.I.G. Realty Partners 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 $19 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 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:
- 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.
- 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.