$7,507,000 Venice Beachfront Apartment Building
| Loan Amount | $7,507,000 |
| Transaction | Acquisition |
| Collateral | 32-unit beachfront apartment building |
| Location | Venice, California |
| Purpose of Loan | Purchase mostly vacant apartment building |
| Exit Strategy | Refinance after lease-up |
| Loan Term | 12 months |
| Interest Rate | 6.90% interest only |
| Origination Fee | 0.75 point |
| Additional Terms | No prepayment penalty. No yield maintenance. Non-recourse. |
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