$4.4 million of total capital commitments was raised for the acquisition of two multifamily assets located in Austin, TX in October 2008. Stony Creek Apartments today produces a steady double digit cash yield alongside very significant value appreciation.
$22.6m in capital commitments resulted in the acquisition of five properties in Austin and San Antonio between 2010 and 2012. Distributable cash flow from operations today consistently yields double digit returns and has averaged 9.4%, net, annually since inception. Two properties have been sold two to date and a third was exchanged in a 1031-exchange into Tucson.
$20.4m in capital commitments resulted in the acquisition of four apartment communities in San Antonio, Nashville, Reno and Tucson between 2014 and 2015. Distributable cash flow from operations has averaged 8.3%, net, annually since inception. Three properties have been sold to date, all of which were realized as long-term capital gains.
$50.6m in capital commitments resulted in the acquisition three apartment properties, one in Nashville and two in Tucson. Distributable cash from operations has averaged 7.1% since inception. All properties are still held in the portfolio.
$35 million in capital commitments have been reserved for the development of a new 392-unit apartment community in Tucson. The land was acquired in late 2020, and ground-breaking on the project commenced in Q4 2021. This project is in an Opportunity Zone and will become a long-term holding once construction has completed.
*as of Q3 2021
