Friends fund has funds to lend

[Rod Haff]

DRAGON CAPITAL
June 24, 2018
MEMORANDUM OF UNDERSTANDING

Dragon Capital in conjunction with Ma Niel; UK and 360 Pacifica is closing out a capital distribution of $100 million of preferred equity and $300 million of non-recourse debt.
There is $11 million of preferred equity and $26 million of non-recourse debt remaining and we need to distribute as soon as possible to a qualified commercial real estate project. Development and construction projects are preferred with all asset types considered.
If you have an eligible project, please forward a short executive summary to [e-mail] for consideration. Once the funds have been disbursed the opportunity will be closed so time is of the essence if you would like to be considered. The terms of the investment will be flexible but equity will only be disbursed for a joint venture opportunity.
For your consideration,
Dragon Capital

[Victor Gresham]

Good Evening,

I hope all is well.

I am looking for an $8,750,000 equity based loan secured by 213 acres +/- acres valued $17,500,000.

Property / land has real estate attached.

I need to close in 7 -10 business days.

Property Attributes

The property address is 140 Aubrey Dr. Butler, PA..

The property includes a 18 Hole Golf Course (approx. 110 acres ), approx. 105 acres of vacant development land, Clubhouse, Tea House, and associated Maintenance Buildings.

All of the land with the exception of 33 acres is zoned R-2 ( 8 units per acre).

A $1,000,000.00 + Clubhouse, 60 Golf Carts, and Tea House along with golf course maintenance equip.

The property and land is owned free and clear of any liens and held in a Family Trust.

Legal Description of Property

060-2f104-13E, 060-2F104-13F, 060-2F104-23DAA, 056-4-1, 056-4-2, 056-39B.

These parcels are located in Butler and Center Twp.`s of Butler County, Pennsylvania.

Requested Loan Terms

Non-Recourse Land Loan - Quick Close is the type of loan requested. (7-10 Days)

$17,500,000 Current Market Value.

$8,750,000 Requested Loan Amount (50% LTV).

1 Year Loan Term.

6% Annual Interest Only Payments.

(The entire one (1) year of interest only payments will be prepaid at closing so that there will be no interest only payments due during the one (1) year loan term.

Two (2) Points paid for Loan Origination Fees.

If your company has an interest in approving our loan request to purchase this property and need more information, please email me with the request and I will secure the requested information.

Exit Strategy

Property will be refinanced after one (1) year to repay requested loan amount.

Conclusion

Property will be purchased for humanitarian purposes and to be developed for assisted living facilities.

Note: All property information provided by Seller.

I look forward to answering any questions you may have via email in order to receive a preliminary decision whether or not your company is interested in financing our purchase of the above property.

Best Regards.