Properties

Righetti Ranch

San Luis Obispo, CA

We originated a $32.7mm 1^st mortgage loan for the acquisition and development of the first phase of Righetti Ranch, a 382 residential lot development on a 162-acre site in San Luis Obispo, California. Located on the Central Coast of California roughly midway between San Francisco and Los Angeles, the city of San Luis Obispo is one of California’s oldest communities, as well as the county seat. The land is fully entitled with most discretionary approvals for the development in place. The borrower has a deep-pocket capital partner and has extensive experience in large-scale developments of this nature in California.

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500 Station

Aurora, IL

We originated a $60.0 million credit facility, consisting of a $25.0 million 1st mortgage loan and a $35.0 million mezzanine loan, to refinance and complete the construction of a 417-unit luxury multifamily development in Aurora, a suburb of Chicago, Illinois. Located in the highly desirable Naperville/Aurora multifamily submarket, the 5-building complex is strategically positioned among numerous retail amenities and enjoys one of the nation’s top school districts. The project features several floor plans with high end finishes and a market leading amenity package including a resort-style pool, outdoor grills, outdoor fireplaces with seating, a fitness center with state of the art equipment, a resident club facility, a business center and a putting green. The project is expected to be completed in the 1^st quarter of 2017.

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Homebuilder’s Land Bank

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A single $150.0 million non-performing loan from a bank consortium, secured by senior liens on 26 undeveloped residential land parcels primarily located in the southwestern United States.

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Performing Loan Portfolio

FL

A $21.0 million portfolio of 22 performing loans from a major national bank secured by senior liens on 22 multi-family properties with a total of 501 units, all located throughout Florida.

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Defaulted Loan Portfolios

FL

Two loan portfolios from a large regional bank, with a UPB of $106.0 million. The loans were secured by completed homes, finished lots, unimproved land, a large marina, finished townhomes and condos, all located throughout Florida.

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Multifamily

Biloxi, MS

Together with a general partner, we purchased a $22.4 million performing loan secured by a large Class A apartment complex located in Biloxi, Mississippi. The complex was 92% occupied at the time.

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