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Villas of Tenison Park returns capital to investors

November 18, 2015

 The Villas of Tenison Park, formerly known as the Villas of White Rock, returned all invested capital to equity investors today through a refinance of the property.

 

TPEG partnered with Presidium Group in April 2014 for this value-add project, a 442-unit apartment community in Dallas, Texas. TPEG provided $4m in preferred equity. Presidium began renovations immediately upon acquisition, and this refinance comes 19 months after acquisition. TPEG investors received a full return of their invested capital along with all accrued preferred return.

 

As of today, TPEG investors have received a total of 116% of their invested capital. They will continue to receive 50% of the the project's equity distributions, both from operations and from an eventual sale of the property.

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