TEP Recapitalizes 1.6 MSF National Civic Portfolio

DALLAS — An affiliate of Dallas-based investment firm Tanenbuam Equity Partners (TEP) has recapitalized a portfolio of 98 civic properties totaling 1.6 million square feet. The properties are scattered across 24 states and are primarily leased to 30 different federal government agencies. The recapitalization consists of senior debt from Centennial Bank, a preferred equity investment from Eagle Point Credit Management and existing common equity controlled by TEP’s principals. The portfolio, which