Alternative Investment

H.I.G. Realty Credit Partners Originates $67 Million Loan Secured by a 314-Unit Multifamily Property in Charlotte, NC

NEW YORK–()–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $52 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Credit Partners, has originated a loan totaling $67 million secured by a 314-unit multifamily property in Charlotte, North Carolina.

The loan was made to Panorama Holdings (“Panorama”), an experienced real estate owner and developer based in Charlotte, who developed the property and completed lease-up in late 2021. The property directly serves the high growth employment area of the University City submarket, and benefits from its immediate proximity to the Lynx Blue Line which connects it to the greater Charlotte area.

“We are excited to finance this brand new, high-quality asset in the Charlotte MSA. Panorama has developed an excellent product that has been well received by the market, and we are delighted to support this project,” said Michael Mestel, Managing Director at H.I.G. Realty Credit Partners.

About H.I.G. Realty Credit Partners

H.I.G. Realty Credit Partners is the real estate debt platform of H.I.G. Capital, a leading global alternative assets investment firm with $52 billion of equity capital under management. H.I.G. Realty Credit Partners has completed debt investments with a gross asset value of over $3 billion, including multifamily, logistics, self-storage, office and hospitality. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. H.I.G. Realty Credit Partners employs a hands-on, operationally focused approach that seeks to generate substantial current income and strong downside protection through creative and thoughtful deal structure, combined with detailed, intensive, bottoms-up underwriting. 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 $52 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:

  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. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. 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 300 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.

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

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