For Immediate Release: New York:

Winter &  Company has arranged a $19,000,000 construction loan for a unique new loft  condominium development on the Upper East Side of Manhattan. The 10 loft-style units range from 2,500 square feet to 4,900 square feet.  The developer, a repeat customer of Winter & Company, managed to acquire an excellent site at a reasonable price with great upside potential. Because the development is a gut renovation of an old garage building, the time frame will be more compressed than new, ground-up construction would have been.  

Winter & Company closed the acquisition portion of the loan only 24 days from the time the Borrower accepted the lender's  term sheet.  The loan was structured at a rate of LIBOR plus 225 basis points and will permit an additional $3 million of mezzanine financing to be  provided by Winter & Company affiliate W Financial.

Henry Berliss, Executive Vice President, negotiated the acquisition loan, which closed on August 23,  2005.

Winter & Company specializes in providing advisory services as well as both institutional and  private mortgages to commercial real estate owners and professionals  nationwide.  It's 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.