Tristan Townhomes is a 112 unit apartment complex located in Garden City, Georgia, a suburb of Savannah. In 2020, this Project was purchased for approximately $3,900,000 through a combination of debt financing together with approximately $2,500,000 from a syndicate of 42 private equity investors. Through application of a “value add” strategy, after 4 months of ownership this Project now has a new estimated assessed value of approximately $4,200,000. The main “value add” strategy employed in this Project has been providing a facelift to the exterior of the buildings and grounds, installing security measures like additional fencing and security cameras, and raising rents to market value. As of February 2021, this Project has distributed approximately $42,000 to its investors, delivering an annualized return of approximately 8.28%. Notwithstanding, investor interests in this project are restricted, illiquid and may not be readily sold now or in the foreseeable future.