For Immediate Release: New York, November 1, 2004: Winter & Company has successfully arranged $5,900,000 acquisition and construction financing to fund the conversion of a loft office building to residential condominiums on East 14th Street in New York City.

The block-through building has 33 feet of frontage on 14th Street and 20 feet on 13th Street and will be developed as 7 residential condominium units with 17,325 sellable square feet. The loft-style units will range from 1,050 square feet to 3,525 square feet and the layouts will consist of floor-through units and one triplex penthouse unit. There is one commercial unit of which the seller will retain control.

The developer of this building has completed numerous gut renovation and ground-up construction projects in Manhattan and Brooklyn. Henry Berliss, Executive Vice President of Winter and Company, arranged the loan with a commercial bank active in the New York area. The loan closed on October 28, 2004.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com