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GRANARY





                                                                       G A TEW A Y

















































                                                                        HOTEL TO 184-UNIT MULTIFAMILY CONVERSION | SALT LAKE CITY, UT

                                                                          $40MM                   $124K                 56.7%                69.0%
      The Davies Group
                                                                         Loan Request             Loan/Unit          Stabilized LTV              LTC
   1   2   3   4   5   6