Stellus Provides Financing in Support of Seaport Capital’s Investment in Pearl Media.Sep 27, 2022
Houston, TX & Charlotte, NC – September 27, 2022 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates acted as administrative agent and provided senior debt financing in support of Seaport Capital’s (“Seaport”) investment in Pearl Media (“Pearl” or the “Company”).
Pearl Media develops, manages, and sells unique marketing, digital, and static media opportunities. Working with best-in-class real estate assets, Pearl develops urban core, mixed-use commercial space, transit centers, and transit adjacent properties in top markets with premium place-based static and digital signage. Pearl targets and transforms large format static properties and vacant storefronts into best-in-market out-of-home advertising opportunities.
“We are pleased to partner with the Stellus team on this exciting opportunity and look forward to Stellus’ continued support as Pearl continues to grow. The Stellus team was thoughtful and constructive throughout the entire financing process,” said Bob Tamashunas, Partner at Seaport Capital.
“We are grateful for the opportunity to partner with the Seaport and Pearl teams,” said Bill Haverland, Principal at Stellus, adding, “Pearl represents a unique opportunity to invest in one of the premier street-level, out-of-home media companies, an industry in which Seaport Capital has a long and successful track record. We are excited to support the Company in its next phase of growth.”
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