Nate R.

Good operator, dealing with challenges in current environment

Mixed results. Had one successful disposition of Maverick on the Loop, which was roughly a double from the initial investment. All the workforce housing deals have recently has been struggling. Carrolton Arms faced significant delays - the reasons given were permitting and supply chain issues. Recently did a capital call for Flats at 183 with the goal of doing a refinance later this year. The reasons given were cost overruns (taxes, insurance, etc). Knowing the current state of capital markets, I assume they need to shore up finances because lenders have decreased LTV's. Recently, there have been some allegations of misappropriation of lender funds from an unrelated deal involving an office-to-multifamily conversion in Downtown Dallas. Can't comment but it does raise some eyebrows.