TPEG sells Tierra Bella Apartments

TPEG sold the Tierra Bella Apartments in Austin, Texas. TPEG and The PPA Group purchased the property 35 months ago for $8.8 million and sold it for $15 million. TPEG equity investors had invested $3.68 million of preferred equity and realized a pre-tax IRR of 22% and a 176% cash-on-cash return.

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