Key facts
- Harvest Capital and TPG Credit finalized a $600 million facility for Metro Development Group.
- The facility is for recapitalization and expansion.
- Ten master-planned communities in Florida are included in the recapitalization.
- The funding will support Metro Development Group's expansion into the Southeast.
- The Harvest-TPG platform's commitments now exceed $2.1 billion.
Harvest Capital and TPG Credit have officially closed a $600 million recapitalization and expansion facility for Metro Development Group. This substantial financial package is designed to recapitalize ten existing master-planned communities that Metro Development Group currently manages in Florida. In addition to strengthening its current portfolio, the facility will also provide crucial funding to support Metro Development Group's planned expansion into new markets across the Southeast United States. The successful closure of this deal brings the total commitments made through the Harvest-TPG platform to an impressive sum exceeding $2.1 billion. This move signifies a significant investment and confidence in the real estate development sector, particularly within the targeted regions.