Tempus Realty Partners Announces Successful Sale of Final Property in $21.6M Portfolio

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Dec 21, 2023, 10:15 ET

LITTLE ROCK, Ark., Dec. 21, 2023 /PRNewswire/ -- Tempus Realty Partners, an Arkansas-based real estate investment partnership, is pleased to announce the disposition of the last property in Portfolio 1 for $5.2M. The sale completes all dispositions in Tempus' Portfolio 1, totaling $21.6M.

The 20,036 SF building is in North Davidson, NC and has been repurposed for office use. The property was acquired by Tempus in 2019 for $2.4M and placed into Portfolio 1, alongside three other properties. The four properties are in North Carolina, South Carolina and Tennessee.

"It is always a matter of great satisfaction for us at Tempus to deliver outstanding outcomes for our investors," Dan Andrews, Tempus Realty Partners CEO, said. "The North Davidson project stands out as a particularly gratifying result. Not only have we achieved a great outcome for our investors, but we have also played a pivotal role in accelerating the rejuvenation of the North Davidson community."

Portfolio 1 is the second Tempus portfolio to have sold all properties. Since 2016, Tempus has curated seven portfolios consisting of industrial and office buildings.

ABOUT TEMPUS REALTY PARTNERS

Tempus Realty Partners is an investor-centric real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The strategy of Tempus is to create superior risk-adjusted returns via unique commercial real estate opportunities by investing with its network of partners in targeted cities. Tempus has acquired more than $1 billion of property in 25 states since 2016.

SOURCE Tempus Realty