Description:  Waterfront Apartments and Waterfront Condominiums with 12 Boat Docks

Location:  Menasha, Wisconsin

Unit Mix:  12 Luxury Townhouse Condominiums, 41 Garden Apartments, and 12 Waterfront Boat Docks

Loan Amount:  $4,600,000

Type:  Construction/Mini-Perm

Construction:  18 Months/Interest Only

Rate:  150 Basis Points Over Prime

Option:  Mini-Perm/18 Months

Amortization:  25 Years

Loan To Value:  75%

Rate:  125 Basis Points Over Prime

Prepayment Terms:  No Prepayment Penalty

Pre-Sale:  25% of Condominium Units

Description:  Mid-Rise Luxury Apartment and Retail

Location:  Appleton, Wisconsin

Unit Mix:  149 Luxury Apartments with Underground Parking

Loan Amount:  $14,500,000

Type:  Construction/Mini-Perm

Construction:  30 Months/Interest Only

Rate:  150 Basis Points Over Prime

Option:  Mini-Perm/30 Months

Amortization:  25 Years

Loan To Value:  75%

Rate:  125 Basis Points Over Prime

Prepayment Terms:  No Prepayment Penalty

Pre-Sale: