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The Opportunity








                    •    Gelt, the sponsor, is seeking $18.3 million in senior

                         debt financing to facilitate its acquisition bridge

                         loan for 11977 Kiowa Avenue



                    •    Attractive untrended lender debt yield of 6.6% and

                         strong DSCR of 1.32x represent a significant buffer
                         between the bridge lender’s basis and permanent

                         (refinance) lender post-renovation






















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