Hamilton Point Sells Connecticut Multifamily Property, Nets DST Investors 14 Percent Return
Hamilton Point Investments, a sponsor of real estate private equity investment funds, sold Wilcox Apartments, an 81-unit multifamily property located in Middletown, Connecticut. The property was acquired by HPI Wilcox DST in December 2012 in a Delaware statutory trust 1031-syndicated acquisition with a total capitalization of $5.96 million. The sale price was $7.00 million.
The investment provided the 1031-exchange investors with a 1.62x multiple on equity, including distributions, and a 14.01 percent net internal rate of return over an approximately 4-year hold period.
“HPI has had two Reg D funds and two DSTs go full-cycle since 2012, returning over $95 million of equity to investors. All four full-cycle programs had roughly 4-year hold periods and all realized IRRs above 14 percent, net to investors,” said Todd Williams, senior vice president of sales and marketing. “This consistent solid performance of above 14 percent annual returns is the result of Hamilton Point’s acquisition and asset management teams, and it certainly helps us stand out amongst our competition.”
Hamilton Point Investments is a real estate investment company based in Old Lyme, Connecticut that owns and manages multifamily apartment properties and invests through a series of Reg D real estate private equity investment funds. The company has sponsored five real estate funds and seven DSTs to date, acquiring more than 9,500 apartment units since formation. HPI manages its assets through wholly-owned Hamilton Point Property Management LLC, which is located in Atlanta.
