Villa D’Orleans Apartments

4055 S. Braeswood, Houston, Texas. PMDC is the sole managing general partner of Houston Orleans Limited Partnership, which purchased the property in April, 1989 all in cash. The property consists of 152 units of Class A/B apartments. The property was further renovated through an additional cash investment of $800,000, which increased its occupancy rate to approx. 95%. The property was divested with substantial profit in 1997.