ADC LOAN PROGRAM

Financing of Acquisition, Development and Construction projects.

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Loan Amount          $2M-$750M

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

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

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Lien Position           1st position

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

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Term                        1-7 yr interest only

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Location                  US & select international

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

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

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

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Amortization           Interest only

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

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Exit Fee                   Varies

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Extensions              Yes

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Extension Fee         Varies

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Prepayment Fee     Varies             (Yield maintenance)

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Processing Fee       $10k+

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Min. DCSR                None

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Credit Score            N/A