ADC LOAN PROGRAM

Financing of Acquisition, Development and Construction projects.

Loan Amount          $2M-$750M

Loan-to-Value         <75% Up to 100%       (Debt/Equity or Securities structure only)

Purpose                   Development/Rehabilitation   (Up to 36 mo. construction period allowed)

Lien Position           1st position

Timing (est)             Term Sheet: 7-10 days; Closing: 3-6 mos. (project variables factored)

Term                        1-7 yr interest only

Location                  US & select international

Interest Rates         4.00%-7.00% (Conduit; CE; Bond/Securities)

                                 7.00%-14.00%    (Hard money; Private placement)

Lender Points         2-5 points – 10-12 points (Debt structure; Securitizations 80-100% LTV)

Amortization           Interest only

Recourse                 Recourse or Non-Recourse (Subject to standard “bad-boy” carve outs)

Exit Fee                   Varies

Extensions              Yes

Extension Fee         Varies

Prepayment Fee     Varies             (Yield maintenance)

Processing Fee       $10k+

Min. DCSR                None

Credit Score            N/A