A $4,500,000 mezzanine loan collateralized by the Lofts at Briar Forest, a 352 unit Class A luxury apartment complex located in the Energy Corridor of suburban Houston, Texas. The loan was acquired in March 2008 at a discount from a publicly traded investment advisor and provided for a current yield and profit participation upon sale of the property.
The investment strategy was based on taking advantage of dislocations in the capital markets. The property sold in June 2010.