Twenty-nine sales since 1998. Realized returns across 25 deals: 2.14x equity multiple and 13.3% pooled IRR, money-weighted, calculated from KPMG-audited entity financials; average annual return per deal, equal-weighted, 19.1%. The six properties sold through the SW Multifamily Portfolio Fund are reported at the fund level and are not in those figures. San Paulo and Arrowhead Summit were each re-acquired into the fund in 2006 and sold again in 2017.