Fernando Aguirre, Vice Chairman of DHS Group Equity Partners, Announces $750M Acquisition of Multi-Family Assets to Be Provided by Haston
DHS Group will acquire Haston Holdings Limited and/or certain of its controlled affiliates for $750 million in the Trust.
WASHINGTON, September 14, 2021 (Newswire.com) - DHS Group, a large private equity firm based in Washington, DC today announced that it has entered into agreements to acquire over 900 existing multi-family residential units in the City of Boston, through multiple transactions (the "Acquisitions") and has entered into an agreement pursuant to which Haston Holdings Limited and/or certain of its controlled affiliates (collectively, "Haston") will be acquired for $750 million in the Trust through a private placement (the "DHS Trust") of US' first impact-dedicated convertible debentures issued by a US public issuer.
"Through DHS Impact Verticals, the Trust is focused on creating as many affordable housing units as possible while providing competitive returns to our investors," said Fernando Aguirre, Vice Chairman of DHS Holdings. "While we continue to be focused on delivering affordable housing through our extensive development pipeline, today we announce that we are also now focused on creating affordable housing units through an innovative plan for existing apartment properties. Based on our approach to finance the acquisition of these existing properties, that will become a mix of market and affordable housing, we can achieve competitive returns with less risk than developments."
The Acquisitions will be completed at an average cap rate of approximately 3.5% with in-place rents approximately 20% below market rates, resulting in expected mid-teens returns. These properties represent the Trust's first acquisitions of existing Boston multi-family residential units and compliment the Trust's strong development pipeline of 18,447 residential units (at 100% project level).
ABOUT DHS
DHS is a high-stakes advocacy, public strategy, and global public relations and communications firm. Our strategic insights and innovative programming build and sustain strong corporate and brand reputations. We provide our clients with counsel and program development across the spectrum of public relations, public affairs, reputation and crisis management, digital strategy, advertising and other communications services. Our clients are companies, industry associations, nonprofit organizations, professional services firms, and other large organizations.
CONTACT
Steven Palmer, Vice President of Communications
DHS
202-719-0398
Source: DHS
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