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H.I.G. Realty Credit Partners Originates $75MM Acquisition Loan Secured by Industrial Condo

April 10, 2023, 07:45 AM
Filed Under: Real Estate

H.I.G. Capital announced that its affiliate, H.I.G. Realty Credit Partners, 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.”

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