Liberty Center

Transaction: Purchase of distressed loan secured by prominent condominium building

Asset Summary: 232-unit, high rise condominium project

Location: Ballston submarket in Arlington, VA, adjacent to Ballston Metro station

Date Closed: February 2009

Investment Strategy:

• Assisted national lender and reputable local condominium developer in restructuring maturing condominium development loan
• Purchased maturing loan at modest discount
• Restructured loan to meet borrower’s needs and the project’s potential cash flow
• Assisted borrower as needed in product pricing and positioning

Exit Strategy:

• Realized