Welcome to the Fourth Issue of the TwinRock Partners’ Quarterly Newsletter. The First Quarter of 2015 has been both productive and exciting for TwinRock as our SFR, Multifamily and Special Opportunity Funds continue to perform to our expectations. Additionally, our firm was recently victorious by unanimous decision in a jury trial as we defended our firm and investors against a mold lawsuit brought by former tenants. Although the suit had been dragging on for the past four years, the strict management policies and procedures that we have in place for all our properties, coupled with diligent preparation by our outstanding team and attorneys won the case and protected us from the plaintiffs’ request for up to 6 million in damages. We believe it was a victory for all property owners.
Our upcoming investment pipeline continues to reflect our confidence in the growth prospects of select markets in the Western and Midwest Region. As we implement our roadmap for 2015, we continue to target B & C class properties in robust secondary markets in California, Nevada, Oklahoma, Wisconsin, and other parts of the country.
Our firm anticipates spending upwards of $100 million during the coming year to acquire assets in these markets as we focus on recovering areas with an expanding business base, growing employment and shortage of for sale and rental housing. Our belief that a recovering economy creates growing demand for housing in markets where supply remains flat remains at the forefront of our investment thesis as we locate significant value opportunities.