Trez Capital is proud to announce the dual sale from its Trez Opportunity Funds (TOF) #4 and TOF #5 of The Beacon and The Dalton, located in the Austin region of Texas, as a portfolio to a single purchaser at a price exceeding initial sale expectations and providing investors with returns higher than the original proforma. Both projects are highly sought-after Austin multi-family communities that serve an undersupplied housing market.
Trez Capital’s Equity Investment Program partners with experienced developers in markets with strong population, job and gross domestic product (GDP) growth. The sale of both projects speaks to the continued growth and unwavering demand in Texas.
Both projects are in TOF #4 and TOF #5. After the sale of the remaining investments held by each TOF #4 and TOF #5, the Internal Rate of Return (IRR) on these funds are projected to be between 30% and 40%, which is well in excess of the projected IRRs of approximately 15% at the time of underwriting. There are several existing projects still performing in these TOFs, which will provide additional income to investors upon sale.
The Beacon and The Dalton are the fourth and fifth projects that Trez Capital has built in partnership with Thompson Realty Capital, which has over 25 years of experience in acquisitions, development, and property management of multi-family, office, and single-family residential projects.
The Beacon contains 258 dwelling units, and The Dalton contains 350 dwelling units. Collectively, these two projects add more than 600 high-quality residential units to a booming region in Austin that needs more housing supply. The projects will also offer the communities attractive amenities.
Trez Capital continues to invest in high-quality development opportunities across North America, particularly in the Sunbelt states such as Texas, Arizona and Florida, for the TOF series and Trez Capital Private Real Estate Fund Trust (TPREF).
