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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 is now valued at approximately $450 million, had an occupancy rate of about 98 percent and a weighted average remaining lease term of about 5.2 years at the time of the recapitalization. Raymond James advised TEP on the transaction.