We are happy to announce that in December 2019, SpringView Investments, (SpringView Investments TN I LLC) sold another of its Memphis, Tennessee homes, and now has six remaining homes from the original 19 homes it purchased in July 2012.
We closed on the sale of another Memphis property today and processed a distribution in the amount of $60,000 to the members based on each member’s percentage ownership. We have 3 remaining homes in the portfolio and are preparing to list 2 of them in the near future. All 3 of the properties are occupied. I anticipate that this investment will be fully realized in 2020.
From inception to date we have now distributed $1.180 MM, which is 147.54% of our original $800k investment and a 1.475x equity multiple; approximately $676k of the distributions have been allocated to return of capital and approximately $504k of the distributions have been allocated to payment of profit, this equates to a simple 10.06% annualized return.
From the inception date to year-end, actual distributions were 125% of the original equity investment; approximately 55% of the distributions have been allocated to return of capital and approximately 45% of the distributions have been allocated to profit. This equates to a 9.00% annualized return. We anticipate that this investment will be fully realized in 2020.