Historical Performance

Sold 2014
370% Investment Return
- Acquired Alegre Apartments in San Antonio, Texas in April 2012
- 24 unit garden-style complex built in 1969
- Asset Quality: C
- We completed value-add improvements achieving the following:
- Occupancy increased from 75% to 100%
- $90,000 in capital improvements
- Sold November 2014 for a total return of 370% in 30 months

Sold 2014
95% Investment Return
- Acquired Aspen Chase Apartments in San Antonio, Texas in December 2014
- 143 unit garden-style complex built in 1966
- Asset Quality: C
- We completed the following value-add improvements:
- Major upgrade to onsite & asset management
- $500,000 in capital improvements
- Achieved 8% cash on cash returns
- Sold September 2016
- San Antonio Apartment Association – Property of the Year 2014

Sold 2016
240% Investment Return
- Acquired Coral Gables in San Antonio, Texas in November 2013
- 28 unit garden-style complex built in 1974
- Location & Asset Quality: C
- Since acquiring the asset, we accomplished the following improvements:
- $100,000 completed capital improvements
- Increased rents 26%
- Improved curb appeal and management
- Sold November 2016 for a total return of 240% in 36 months

Sold 2017
232% Investment Return
- Acquired Darby Square in San Antonio, Texas in February 2015
- 74 unit garden-style complex built in 1986
- Asset Quality: C
- Improved operations and curb appeal, increasing resident satisfaction and
occupancy to 96% - Sold September 2017 for a total return of 232% in 30 months

Sold 2019
134% Investment Return
- Acquired Astoria Apartments Homes in San Antonio, Texas in July 2014
- 88 unit garden-style complex built in 1979
- Asset Quality: C
- Since acquiring the asset, we accomplished the following improvements:
- Occupancy improved from 36% to 92%
- Achieved rental growth of 50% on new leases
- Refinanced after 2 years, in August 2016, returning 104% of investor capital while retaining ownership with projected 15% -18% annual returns
- Sold May 2019 for a total return of 134%

Sold 2019
154% Investment Return
- Acquired Aragon Place in San Antonio, Texas in January 2016
- 216 unit garden-style complex built in 1983
- Asset Quality: B
- We completed the following value-add improvements:
- Replaced onsite management team
- $950,000 in planned improvements
- Occupancy increased from 80% to 92%
- Sold October 2019 for a total return of 154%

Sold 2021
75.87% Investment Return
- Acquired Parc 410 in San Antonio, Texas in March 2017
- 344 unit garden-style complex built in 1980
- Asset Quality: B
- We completed the following value-add improvements:
Renovated 130 units with $525,000 rehab budget, utilizing economies of scale with current portfolio and in-house construction and management teams
- Sold October 2021 for a total return of 75.87%

Sold 2021
Investment Return Pending
- Acquired Atrium Commons in San Antonio, Texas in October 2017
- 256 unit garden-style complex built in 1985
- Asset Quality: B
- We completed the following value-add improvements:
- Sold December 2021
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