## Three Pillars Capital Exits Aspen Apartments with 18.5% IRR, Demonstrating Strong Investor Returns
Houston-based real estate private equity firm, Three Pillars Capital, has announced a successful exit from Aspen Apartments, delivering an impressive 18.5% IRR to investors. This latest exit adds to the firm’s track record of profitable ventures, showcasing their expertise in navigating the real estate market and generating strong returns.
Aspen Apartments, a diverse collection of studio, one, two, and three-bedroom garden-style apartments and townhomes located in the desirable Central Northwest Houston area, underwent a comprehensive, two-year value-add program under Three Pillars Capital’s management. This program included strategic renovations and repositioning efforts, ultimately enhancing the community’s appeal and delivering a more modern living experience for residents.
“We will exit when the numbers justify it. A win is a win,” stated Gautam Goyal, Founder & CEO of Three Pillars Capital. “My goal is to deliver strong returns for our investors. We are always in acquisition mode, but it’s important to exit when the opportunity presents itself. We have several hundred million in acquisitions coming up and look forward to implementing our renovation plan and creating a community that reflects the quality and standards we are known for.”
Three Pillars Capital’s ability to achieve success in a challenging market, characterized by higher interest rates, inflated expenses, and flat rent growth, has been recognized by industry experts. “Three Pillars has done well in a period where many Sponsors are getting squeezed from higher interest rates, inflated expenses, and flat rent growth,” said Derek Fasulo, leading the capital markets team at CBRE Houston, who has secured over half a billion in loans for Three Pillars. “Gautam and Josh are great stewards of capital and steering their ship in the right direction. In most of our business calls, their top priority is returning investor capital and doing right by them.”
With over two decades of combined experience in acquisitions and asset management, Three Pillars Capital manages over $600M+ in high-performing assets, encompassing approximately 4,500 units. The firm’s commitment to delivering strong investor returns, strategic acquisitions, and value-add renovations has solidified its position as a leader in the Houston real estate market. As they continue to pursue new acquisitions and implement their proven renovation plans, Three Pillars Capital is poised for continued success and growth.