Parc at South Green/Magnolia Grove, a 696-unit class-B apartment community in the Gulfgate/Almeda Submarket of Houston with frontage on I-45 just north of the Sam Houston Tollway, was acquired in May 2013 with a Fannie Mae floating rate loan from Wells Fargo and equity from a private Swiss investment group. Parc at South Green and Magnolia Grove was operated by the previous owner as a single property and Tradewind divided the asset into two distinct communities to enhance exit options and value. Extensive exterior and interior upgrades have also been completed, intended to position the properties at the top of the class B market and more effectively bridge the gap to the class A properties in the area. The assets were sold as a portfolio in December 2014.