January 12, 2018- PrivCap Holdings sold Wynnewood Gardens in Dallas, TX generating a 59% IRR to investors over a nineteen-month investment hold.
“The Texas market is on fire and thankfully, as a company, we had the foresight to invest in the market a few years ago. This sale and the realized returns reflect the tremendous market appreciation in Dallas and the value of our remaining Texas portfolio”, commented PrivCap CEO, Donny Cohen. “With the recent changes in the tax code, we envision continued growth and demand in both the Texas and Florida markets.”
PrivCap acquired the 104 unit property along with partner, Code Capital, in June 2016 for $3.55mil and sold the property for $6.45mil to a local Texas investor. PrivCap continues to seek value add opportunities in the Texas market.