Trinity Capital: 2018 Review and 2019 Outlook

January 22, 2019

From the inception of our website, we have yet to spend anytime blogging and sharing information with our loyal investors, friends, colleagues, or distant admirer’s. We plan to change this in 2019 so you can peer inside the life of Trinity Capital, our deals, the market, and other endeavors we embark on. It’s apropos that the first post is the day after Martin Luther King Jr day. In no way are we trying to place ourselves in the same category as him. Dr. King was one of the greatest men to ever live. He helped transform America into the great nation it is today. He was a dreamer, peacemaker, he wanted to provide freedom for all men and women, diligently fought for what he believed in, and followed God wholeheartedly. We strive towards many of the same goals and beliefs he had. We desire to impact the cites, residents, and communities we invest in for the better. We also want to help our investors achieve financial freedom to live the lives they dream.

2018 was a busy and incredible year for Trinity Capital with multiple projects coming to fruition after months and years of work. The first couple of years seemed like we spent many hours and days greasing the wheel and pushing with all our might that resulted in little movement. 2018, we finally felt the wheel start to turn and saw some of the fruits of our labor blossom in to great projects for the cities we invest in, our tenants, stakeholders, and most importantly our investors.  

Here are a few snippets about our 2018 deals.

El Dorado Estates is our 200-acre land development in Brock, Texas. We have sold 44 out of the 95 lots thus far. We have had two capital distributions to our investors and after we sell 5 more lots all sales will be strictly profit.

Remington Ridge is our latest apartment development in Weatherford, Texas. After two years of pre-development work with lenders, the City of Weatherford, land owner, and other stakeholders, we partnered with Prosperity Bank to finance the project. We completed the capital raise in September and closed the apartment loan in October. We are in the early stages of the development, but excited to see what 2019 entails and when we can open the doors to Weatherford.

Rocker D RV Ranch is a 60-space RV park we purchased through a JV with one of our trusted partners. This brings Trinity Capital into another asset class that we are super excited about. The park is located in Mineral Wells, Texas and this opportunity affords us the ability to turn around operations and significantly increase the net income of the park by adding additional amenities and living space.  

The Sidney Baker is a mix-use development in Kerrville, Texas. We sold the commercial piece of the development in 2017 and finished the apartment development in September 2018. The Sidney Baker is the newest product in the Kerrville market which has been a blessing with how smoothly the lease-up went and our occupancy rates. We are currently refinancing the construction loan into a long-term CMBS loan. This allow us to provide our investors their initial investment back in the property and we can own it out right for years to come.

WestPark is our first multifamily development in Weatherford. We started construction on the project in 2017 and finished up the second phase of the project in 2018. This has been a grand slam deal for us.  The property is consistently above 95% occupancy and we completed the refinance into an agency debt loan. The refinance allowed us to return all initial capital back to investors in the deal while still providing significant monthly cash flow.

Weatherstone is an apartment that helped our company become a multi-state investor. We spread our wings and flew to Mississippi to purchase it. We are currently under contract and ready to close on the 81-unit gem. Since it is under contract, we can’t disclose to much about the property, but we believe it is a great asset that we can make even better.  

 

2019 is off to a great start at Trinity Capital. We want to stabilize our company and our assets as much as possible so we can find more deals to invest in and partner with more exceptional people. Some plans that are already happening in 2019 include:

  • Closing on Weatherstone Apartments.

  • Start our next development deal in Springtown, Texas. We already have a partner lined up to conduct a joint venture. The partner is a trusted partner we’ve already done multiple deals with and believe this to be another home run.

  • Michael and I are going to China in March. This trip is to look at the product quality of materials we will source for all our future projects. We have sourced a few products from China in the past, but we are excited for this opportunity and to start sourcing the majority of our interior products.

  • Sourcing and analyzing deals to find the next great project!

 

Trinity Capital has a lot to be thankful for in our short existence. There have been countless people that have provided guidance, assistance, time, capital, and anything and everything in between you can think of. We THANK YOU and are excited to see what the future holds!

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