Enclave at Hometown returns equity capital

Enclave at Hometown, a 260-unit luxury apartment complex in North Richland Hills, Texas, has been completed and refinanced. The refinancing and cash flow have allowed the project to return 100% of equity capital to investors along with all of the preferred return that had accrued. Limited partners who invested through TPEG will continue to receive 60% of the project's cash flow and proceeds from the eventual sale of the asset.