News - PPA Group Buys Tierra Bella

AUSTIN, Texas— The PPA Group, an Austin-based real estate investment and development company has purchased the Tierra Bella apartments, a 205-unit community in Austin, TX.

Tierra Bella was purchased out of bankruptcy at a below market price. Built in 1985, the property has a
significant value-add component. Property improvements are scheduled to begin this month. The changes
that are expected include foundation and roof repairs, common area rehabilitation, and unit renovations.
The project is expected to take 6-months to complete.

“We know that Texas’ economy is flourishing at an incredible rate compared to other parts of the
country,” says Monte Lee-Wen, President and CEO of The PPA Group. “We’ve seen tremendous growth
in Austin, San Antonio, Houston, and Dallas and we know that this is a prime opportunity to buy valueadd
multifamily properties and expand our portfolio which is why we purchased Tierra Bella.

The property was funded in less than 45 days with a loan from Beech Street Capital. “We are very
impressed with The PPA Group team. They were timely, professional, engaged, and worked hard with us
to meet the strict deadlines for a number of specific requirements,” said Brian Sykes from Beech Street
Capital. “We’ve developed a really good working relationship with PPA.”

“PPA has worked with Beech Street before and once again they did a fantastic job getting the loan closed
so quickly,” says John A. Latham, CIO of The PPA Group.

About The PPA Group (“PPA”)
The PPA Group is a privately held, commercial real estate investment and development company
headquartered in Austin, Texas. PPA is a national sponsor with a broad experience within the multifamily
sector. The company was launched around a simple idea: to deliver investors the benefits of multifamily
real estate ownership that once was reserved for only the wealthiest individuals and institutions.

The PPA Group relocated from Washington State to Austin in 2006. Since moving to Austin, the
company has been ranked in INC. Magazine’s top real estate companies in 2009 (ranked 47th) and 2010
(ranked 11th) despite the economic downturn at that time.

The company owns and manages apartments throughout the state of Texas and is working on a new
development infill project in San Antonio that is set to break ground in early 2014.

Contact: Jessica Lee-Wen, Marketing
The PPA Group, LLC
(512) 651-0513

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