HIG and a private investor purchased a 6-acre property with a 9,300 sf. home that is 90% complete.  The property had almost $6.0 MM invested in it before the prior owner lost the home to GM's credit division, subsequently taken over by the U.S. Government during the GM bailout.  HIG purchased the property from the US Government for $350,000.00 in an all-cash transaction . The property will be held and then sold. Target price is a 5x return on the initial invetment with a 2-year hold time.

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