Nov 11, 2005
Latest Vendor NewsSource: Various

Hines Horticulture Inc. Completes Miami Sale

Hines Horticulture Inc. announced last week the successful completion of the sale of 122 acres of unimproved property in Miami, Fla. and the receipt of $47.2 million in net proceeds. In accordance with the First Amendment to Credit Facility dated June 30, 2005, the proceeds from the sale were used to payoff the entire outstanding balance of the company’s term loan, which was approximately $30.5 million. The remaining funds of approximately $16.7 million were used to pay down the revolving credit facility. The company has also entered into a two-year lease agreement with the buyer to lease the property while transitioning operations to other locations.

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Lupine Staircase series (Green Fuse Botanicals)
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GPN recognizes 40 industry professionals under the age of 40 who are helping to determine the future of the horticulture industry. These individuals are today’s movers and shakers who are already setting the pace for tomorrow.
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Fratino 2 Matt - Chelsea Market Manhattan

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