First Trust Deed collateralized by one unit (Unit 3) within the Marketplace 205 shopping center in Portland, OR. The borrower recently acquired this property as part of a greater purchase to acquire roughly 315,000 sf within the Marketplace 205 shopping center and has since stabilized nearly 135,000 sf of that original purchase. Now, the borrower is looking to refinance the remaining 180,000 sf while they work to bring in new tenants to further stabilize the property. There are currently 6 suites that make up Unit 3, and two of these suites already have signed 10-year leases in place with strong tenants. One more suite has an LOI in place, and the remaining 3 suites make up approximately 31% of the total footprint. Located near the intersection of I-84 and I-205 within Portland’s Gateway District, the property is surrounded by high density residential, and the area has an additional 700 multifamily units currently in development which bodes well for the long-term viability of this project.

First Trust Deed collateralized by 23 acres of land in Fishers, IN which is just 17 miles outside of downtown Indianapolis, IN. The borrower originally acquired the land at a strong discount nearly 3 years ago with many potential exit strategies including an as-is sale or to develop the land themselves. Now, those plans have materialized in the form of a signed Purchase and Sale Agreement between the borrower and a 3rd party firm specializing in senior living. Fishers, IN is the 4th largest city in the state of Indiana and has invested over $2B into the city’s growth in the last 10 years. Located just off Interstate 69, this land is just a 5 minute drive from the Hamilton Town Center which offers numerous walkable retail and dining experiences for residents. Also nearby is the IU Health Saxony Hospital, which specializes in senior health, and a new development project for a 150,000 sf Target less than 2 miles to the west was just announced in February of 2025.

The collateral for this loan consists of three connected parcels totaling 3.94-acres of land in Kalispell, MT, which has been the fastest growing city in Montana since 2020. This land is currently zoned B-2 which has allowed the borrower to pursue plans to construct a nearly 61,000 sf retail center that will house 15 suites, all of which have signed LOIs with tenants that will move in upon completion of the construction and TI work. Construction began in late 2023 and as of today is over 60% completed with the remaining construction work expected to continue until early Q3 of 2025. This loan will refinance the current debt while providing the necessary funds to complete construction. Construction for this loan constitutes a grey shell building where tenants will be responsible for the tenant improvement work. Just to the west of the site, within the same development, the borrower has constructed about 70 units of multifamily fourplex’s which will be a great built-in customer base for these retailers.

First Trust Deed collateralized by one unit (Unit 3) within the Marketplace 205 shopping center in Portland, OR. The borrower recently acquired this property as part of a greater purchase to acquire roughly 315,000 sf within the Marketplace 205 shopping center and has since stabilized nearly 135,000 sf of that original purchase. Now, the borrower is looking to refinance the remaining 180,000 sf while they work to bring in new tenants to further stabilize the property. There are currently 6 suites that make up Unit 3, and two of these suites already have signed 10-year leases in place with strong tenants. One more suite has an LOI in place, and the remaining 3 suites make up approximately 31% of the total footprint. Located near the intersection of I-84 and I-205 within Portland’s Gateway District, the property is surrounded by high density residential, and the area has an additional 700 multifamily units currently in development which bodes well for the long-term viability of this project.

First Trust Deed collateralized by 23 acres of land in Fishers, IN which is just 17 miles outside of downtown Indianapolis, IN. The borrower originally acquired the land at a strong discount nearly 3 years ago with many potential exit strategies including an as-is sale or to develop the land themselves. Now, those plans have materialized in the form of a signed Purchase and Sale Agreement between the borrower and a 3rd party firm specializing in senior living. Fishers, IN is the 4th largest city in the state of Indiana and has invested over $2B into the city’s growth in the last 10 years. Located just off Interstate 69, this land is just a 5 minute drive from the Hamilton Town Center which offers numerous walkable retail and dining experiences for residents. Also nearby is the IU Health Saxony Hospital, which specializes in senior health, and a new development project for a 150,000 sf Target less than 2 miles to the west was just announced in February of 2025.

The collateral for this loan consists of three connected parcels totaling 3.94-acres of land in Kalispell, MT, which has been the fastest growing city in Montana since 2020. This land is currently zoned B-2 which has allowed the borrower to pursue plans to construct a nearly 61,000 sf retail center that will house 15 suites, all of which have signed LOIs with tenants that will move in upon completion of the construction and TI work. Construction began in late 2023 and as of today is over 60% completed with the remaining construction work expected to continue until early Q3 of 2025. This loan will refinance the current debt while providing the necessary funds to complete construction. Construction for this loan constitutes a grey shell building where tenants will be responsible for the tenant improvement work. Just to the west of the site, within the same development, the borrower has constructed about 70 units of multifamily fourplex’s which will be a great built-in customer base for these retailers.