(#7213) Florida, $20.4m, debt fund: Non-performing residential mortgage loan pool

Offering Overview

- Portfolio of 75 single family homes

- Effective yield: 6.0%

- The loans are secured 100% by first mortgages on residential real estate.

- The majority of the homes are in Florida (41%) and Georgia (23%) followed by South Carolina (19%) and Alabama (14%).

- Targeted acquisition price: $14,400,000 ( 30% discount to Unpaid Principal Balance)

Total Loan Balance: $20,405,233

Asset Class: Whole loan

Coupon: 4.10%

Average Balance: $400,101

Loans: 52

Maturity: 10/12/24

LTV: 72.0%

Collateral Type: Single Family

Value: $28,483,033

We expect to acquire the pool for approximately $14.4 million (70% of outstanding loan value).

Expected Return: 20-25% annualized (18-24 months hold period estimated)