Alternative Investments

Underlying real estate:

• Focus on office and multifamily; selective hotel, industrial and retail
• Strong sponsorship/borrowers with established operating histories
• All U.S. markets

Return Parameters: 12%-15% unleveraged

Debt:

Targeted Debt Investments:

• Target focus $5 million - $10 million for each individual investment
• $25 million maximum for individual investment

Purchases of existing debt from lenders and new originations

Investment Structure of Debt:

• Fixed and floating rate
• Maturities ranging from 1-10 years; target maturities 3-5 years
• Mezzanine debt and preferred equity

Joint Ventures and Strategic Alliances:

Passive Equity Investments up to 90% of Transaction Requirement

Targeted Equity Investments

• Target focus $5 million - $10 million for each individual investment
• $25 million maximum for individual investment

Investment Structure

• Common equity with vote on major decisions
• Target 3-5 year hold period

For more information, contact:
T. Richard Litton Jr.
999 Waterside Drive, Suite 2300
Norfolk, Virginia 23510
Phone: (757) 640-0800
Fax: (757) 640-0817
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