E2M | Portfolio

NPE Investors, L.P. E2M Value Added Fund has invested in NPE Investors, L.P. an entity formed to develop a master-planned commercial and multi–family residential project in Dallas, Texas. The project is planned to include 700,000 square feet of retail space to be anchored by a Whole Foods grocery store, 340,000 square feet of office space, 573 luxury multi–family rental units, a 4 star 201–room hotel with 75 residential condominiums, and a 65,000 square foot sports and health club. The project is located directly east of North Park Center, one of the most successful super–regional malls in the United States and a Dallas landmark. The firm has made this investment to capitalize on the project’s close proximity to dominant retail operations and to the highest household income neighborhoods in Dallas.

Edgewater Retail Partners I, L.P. E2M Value Added Fund has invested in Edgewater Retail Partners I, L.P., to acquire a 14 acre site with an existing 141,335 square feet (SF) retail center located in Biloxi, Mississippi. Despite significant damage from Hurricane Katrina, the business plan calls for the redevelopment and expansion of the center which will eventually total 162,335 SF. The investment property is located near both Edgewater Mall and Edgewater Village which constitute the largest concentration of retail space along the coastal zone from New Orleans to Mobile. The firm has made this investment to take advantage of a unique market opportunity due to the lack of retail offerings in the Biloxi area. In December 2006, E2M refinanced this project under the Federal Gulf Opportunity (GO) Zone Act of 2005. These government-backed bonds, with favorable rates, will provide liquidity and increased returns to the portfolio.

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