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Gia IV @ Bellaire is the Fund’s most recent acquisition, completed in 2015. This is a 206-unit apartment complex that Gia Capital purchased from a distressed owner. Since acquisition, TE has completed renovations, improved property management and enhanced occupancy.  The property is performing very well and has substantially increased in market value since acquisition. As of 2018, TE has returned 60% of equity to investors and is in the final stages of refinancing the property with permanent debt. Our strategy is to continue distributions to investors over the next few years.