Timmons Place

3701 Timmons

Type: Retail
Timmons Place, LP acquired 3701 Timmons on May 1, 2012 to March 3, 2015 when the property was refinanced. The partnership realized strong cash on cash returns of 10%-12%. These returns were achieved by strategic capital improvements and superior property management and leasing. The asset was purchased as an interim income producing property and future land redevelopment. The property was refinanced in 2015, resulting in the complete return of equity invested. The property sold in June 2019 generating a multiple over 3 and an IRR of 28% on a 7 year hold.