~84%
Deal-level IRR — highest in portfolio
Single Family · Hollywood Hills
Villa De Vistas
7212 Mulholland Dr · Sold · $6.40M · 2021 – 2022
2.68x
Equity multiple
16 mo
Hold period
$878K
Refinance proceeds mid-hold
The Investment
The highest IRR in the portfolio, built on a short hold and an early return of capital.
A Mulholland property acquired with a defined, narrow scope: the house needed a comprehensive remodel, not a rebuild, and the underwriting was built around getting in and out before the carry could compound.
Mid-hold, an $878K refinance returned a substantial portion of capital to the sponsor while the position remained at risk through the sale — the mechanic that drove the IRR. Refinance proceeds are not profit; they accelerate the timing of capital coming back, which is precisely what a time-weighted return measures.
The property sold within roughly seven months of close of escrow at $6.40M. Total returned was $1.87M on $700K of equity across a 16-month hold — approximately 84% IRR.
Gallery
The property.
Return On Investment
The numbers.
| Strategy | Total project cost | Disposition / value | Gross profit | Profit on cost |
|---|---|---|---|---|
| Remodel + refinance | $4.20M | $6.40M | $2.20M | 52.4% |
Equity Performance — Realized
| Equity invested | Total returned | Net profit | Hold | Multiple | IRR |
|---|---|---|---|---|---|
| $700,000 | $1,872,710 | $1,172,710 | 16 mo | 2.68x | ~84% |
This project was completed by the principals through Thornton Development Group or an affiliated predecessor entity. It was not an Assemble Capital offering and did not involve Assemble Capital investors. Figures are sponsor-level, pre-tax, unaudited, and derived from internal records, closing statements, and lender documentation. Past performance is not indicative of future results.
Investment Cycle
How the deal ran.
Every project follows the same arc — acquire, design and permit, build, market, exit. What changes is where the time and the risk concentrate.
2021
Acquire
Purchased with a remodel-only scope and a defined exit window.
2021–2022
Build
Comprehensive remodel executed on a compressed schedule.
Mid-hold
Refinance
$878K refinance returned capital early; remaining equity stayed at risk.
2022
Market
Listed immediately upon completion into a strong comp set.
2022
Exit
Sold at $6.40M roughly seven months after close of escrow.
The Takeaway
Refinance as a return-of-capital tool. Time-weighted returns reward getting capital back early, even when total profit is unchanged.
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