H.I.G. Realty Partners Originates Loan Secured by Dallas Biotech and Social Impact Office Campus

first_imgLocal NewsBusiness By Digital AIM Web Support – February 9, 2021 Facebook NEW YORK–(BUSINESS WIRE)–Feb 9, 2021– H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $43 billion of equity capital under management, is pleased to announce that its affiliate, H.I.G. Realty Partners, has originated a loan to finance the redevelopment of Pegasus Park (the “Property”), a 5-building, 23-acre campus located 5 miles northwest of downtown Dallas, Texas. The project, which is adjacent to the Medical District and anchored by UT Southwestern, was publicly announced in July 2020 and is already 60% pre-leased. The loan was made to a joint venture between entities owned by J. Small Investments (“JSI”), a local owner/operator, and Lyda Hill, a prominent entrepreneur and philanthropist in Dallas (collectively, the “Sponsor”). JSI purchased the campus from Exxon Mobil in 2015 and partnered with Ms. Hill in 2019 in order to create a hub for business, biotech innovation and social impact. The project features 150K square feet leased to non-profit organizations to create a collaborative community and help accelerate their respective missions. The Sponsor has also partnered with BioLabs, a national, membership-based network of shared lab and office space in key biotech innovation clusters, to operate its ninth location at the Property. Select amenities at the campus include conference facilities, a brewery/restaurant, fitness center and networking and educational events. “We are excited about this unique opportunity to finance such a dynamic and collaborative project,” said Michael Mestel, Managing Director at H.I.G. Realty Partners. He added, “We are confident JSI and Ms. Hill will successfully re-vitalize this campus into a best-in-class campus for business, biotech, innovation and social impact.” About H.I.G. Realty Partners H.I.G. Realty Partners is the real estate platform of H.I.G. Capital, a leading global alternative assets investment firm with $43 billion of equity capital under management.* H.I.G. Realty Partners manages $7.8 billion of assets and focuses on small-to-mid cap real estate, targeting both equity and debt investments across all property types located throughout the U.S., Europe, and Latin America. Debt investments include senior bridge loans, mezzanine loans and preferred equity collateralized by transitional properties and portfolios. Equity investments are concentrated on the acquisition of value-add assets, 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. 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 $43 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. 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. View source version on businesswire.com:https://www.businesswire.com/news/home/20210209005204/en/ CONTACT: Michael Mestel Managing Director [email protected] Wiseman Managing Director [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE BANKING PROFESSIONAL SERVICES UNIVERSITY EDUCATION RESIDENTIAL BUILDING & REAL ESTATE SOURCE: H.I.G. Capital Copyright Business Wire 2021. PUB: 02/09/2021 06:00 AM/DISC: 02/09/2021 06:01 AM http://www.businesswire.com/news/home/20210209005204/en Previous articleMoody’s Analytics Tops Four Categories, Finishes #2 Overall in CeFPro™ Fintech Leaders ReportNext articleNature Medicine Publishes First Study Utilizing NanoString’s GeoMx Digital Spatial Profiler Whole Transcriptome Atlas Digital AIM Web Support Pinterest WhatsApp Facebookcenter_img Twitter WhatsApp Twitter Pinterest TAGS  H.I.G. 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Port operator Pelindo III records decline in ship traffic

first_imgMeanwhile, imports fell even faster, dropping by 42.2 percent to $8.44 billion, the lowest since 2009, due to weak domestic demand for consumer goods, raw materials and capital goods.Saefudin said Pelindo III projected an annual decline of shipped goods by around 9 percent to 15 percent by the end of 2020. The company recorded 75 million tons of goods being shipped last year.“We made the projection based on the effects of lockdowns in Indonesia’s export destinations and import source countries,” he said.To spur demand for transshipment services, Pelindo III is offering a 35 percent discount on the loading and unloading fees.The company is also offering a 50 percent discount on the seaport service charge and 85 percent stevedoring charges discount for freighters that are part of the government’s maritime highway program.“We are trying to rebuild optimism by supporting our exporters, which effort will eventually stimulate economic growth” Saefudin said.Saut Gurning, a maritime economy expert from November 10 Institute of Technology (ITS), said government support in the form of nontax state revenue (PNBP) exemptions, among other things, was needed to ease sea freighters’ burden and keep the industry afloat.“Because of the rising operational expenditure during the pandemic, combined with slumping revenue, many shipping companies are under intense pressure. What they need are fiscal incentives,” he said.Saut added that rules stipulated in Government Regulation No. 15/2016 regarding PNBP collection in the transportation sector needed to be reviewed to provide stimulus for the industry.“PNBP has become a boogeyman in the business sector, and it needs to be reviewed. The government could help the industry by reducing [companies’] expenditure,” he said.Topics : State-owned port operator PT Pelabuhan Indonesia (Pelindo) III has recorded a decline in ship traffic in this year’s first half as the COVID-19 pandemic disrupts global trade and decimates the sea freight and logistics industry.Pelindo III president director Saefudin Noer said Wednesday that the company’s ports had seen an 8 percent year-on-year (yoy) decline in overall ship traffic and 10 percent annual slump in freight ship traffic in the first half of 2020.The company manages 43 seaports in seven provinces, including the logistics hub of Tanjung Perak seaport in Surabaya, East Java, and the Semarang container terminal in Central Java, which is used for shipping routes to China, South Korea and Singapore, among other countries. “We have seen a 15 percent decline in international container ship traffic to our seaports. However, the flow of goods to our Surabaya and Semarang seaports remained relatively stable as demand for goods is still growing in some regions,” Saefudin said during a webinar held by media outlet Kompas.Indonesia’s sea freight industry suffered a double blow in May, as falling international trade and a global oil price slump put pressure on shipping demand, according to the Indonesian National Shipowners Association (INSA).The association reported that container shipping revenue had fallen by 10 to 25 percent from normal levels. Revenue from bulk carriers, such as tankers, tugs and barges, had dropped by 25 to 50 percent.Statistics Indonesia’s (BPS) data show that Indonesia’s exports plunged 28.95 percent yoy in May to US$10.53 billion, the lowest since July 2016, due to falling exports of coal, coffee and palm oil as well as oil and gas.last_img read more